Pension services and SIPP provider STM has been acquired by Guernsey-based investment vehicle Pension SuperFund Capital in a £39.8m deal that was extended several times since first being announced in July.

SIPP provider STM has reported half year, pre-tax profit down by £400,000 as negotiations over a takeover bid for the group are extended again.

Pension SuperFund Capital has reported an “inadvertent breach” of one of the rules of City Code on Takeovers and Mergers in its announcement on 8 September about its offer for SIPP provider STM Group.

The £39m bid for SIPP provider STM Group has been extended for a fourth time as chief executive Alan Kentish strives to buy a chunk of the company.

Investment vehicle Pension SuperFund Capital has lowered its offer for SIPP provider STM Group from 70p per share to 67p per share.

SIPP and pensions provider STM Group has agreed in principle to a £41m takeover bid from Guernsey-based investment vehicle PSF Capital GP II Limited, better known as Pension SuperFund Capital.

STM Group, parent company of SIPP provider Options, has completed its acquisition of the SIPP and SSAS portfolio of US asset manager and pension consultancy Mercer.

STM Group, parent company of SIPP provider Options, has agreed to acquire the SIPP and SSAS portfolio of US asset manager and pension consultancy Mercer.

The Supreme Court has denied permission to appeal in the landmark Adams vs Carey case, effectively ending the long-running saga which questioned provider responsibility when accepting investments into a SIPP.

STM Group, the international financial services provider which owns SIPP firm Carey Pensions, has reported a drop in revenue and profit for the first six months of the year.