Deals
Ex-JPMorgan Deal Adviser Fights Fine Over Heritage Tip
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Ian Hannam, formerly one of JPMorgan Chase & Co.’s top merger advisers, was seeking more bidders for one of his clients, Heritage Oil Plc, when he disclosed to an investor that another potential acquirer had made an offer.
“I believe that the offer will come in in the current difficult market conditions at 350 pence ($5.30) and 400 pence per share,” Hannam wrote to his contact. “I am not trying to force your hand, just wanted to make you aware of what is happening.” On the day Hannam sent the e-mail, Heritage stock closed at 204 pence in London.