Prime and Pharos fail to reach acquisition agreement

M&A WATCH- No agreement on Prime-Pharos acquisition: Prime Holding’s bid to acquire Pharos’ securities brokerage and investment banking arms has come to an end after acquisition talks collapsed yesterday. Both Prime Holding and Pharos released statements announcing that they had failed to reach a final agreement. Prime Holding said earlier this week that it completed the due diligence process ahead of the planned acquisition. Prime Holding made a bid in June to acquire 100% of Pharos’ brokerage and investment banking arms.