Two Firms Drop Out of Bidding for Irish Broker Davy: Irish Times

U.S. private equity firm Carlyle Group Inc. and Ireland’s Melior Equity Partners Ltd are no longer involved in the process to buy Dublin-based securities firm Davy, the Irish Times reported, citing unnamed sources.

Great West Lifeco Inc.’s Irish Life and Investec Ltd haven’t submitted a proposal to take over Davy, though may not have left the sale process entirely, while Bank of Ireland Group Plc, a former owner, did submit an offer, the newspaper said.

Others thought to be involved in sale process include the U.S. financial services firm Stifel Financial Corp and U.K.-based Tilney Smith ...