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BERRY Birch & Noble is to make a [pounds sterling]48m reverse takeover bid for rival investment...

BERRY Birch & Noble is to make a pound sterling48m reverse takeover bid for rival investment advisers, Berkeley Financial Services Group.

Berry Birch is valued at just pound sterling6.48m but will issue shares for Berkeley, Britain's fourth- largest network of independent financial advisers. The expanded company will be called Berkeley Berry Birch.

The offer will be conditional on Berkeley raising pound sterling10m of new funds.

Most of those funds will be provided by five investors - Friends Provident, Norwich Union, Scottish Widows, Skandia an

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