Big banking marriage nears

pressure to end 'engagement' BRITAIN'S t iggest-ever bankin Securities and Hill Samuel receiv from the Fleet Street Press.

The £1,500m merger plans of London on Thursday. The issues the 'Sunday Times', now repeated b 'Daily Mail', mean that not only public inquiry is demanded.

This financial affair is politically explosive because the founding partner of the Slater Walker operation is Peter Walker, the Trade and Industry Secretary, and a leading member of Heath's Cabinet.

Hill Samuel also has the closest connections with the Tory Party. Two years ago the chairman, Sir Kenneth Keith, and his directors gave £25,000 to Tory funds.

The central anxiety is that the merger, which creates the larfounder and former chairman of Pergamon Press, was neither rejected nor accepted in the bid to get back on the board at an indecisive extraordinary general meeting yesterday.

After a call from the American editors of Pergamon Press US journals for Maxwell to stay on in his £16,000-a-year consultancy position, the meeting decided unanimously to defer a g merger between Slater Walker ed a crushing lambasting yesterday will be decided at a decided raised in a y the 'Daily the merger gest single finance and banking group in Britain, was not referred to the Monopolies Commission.

The man who took the decision not to have a monopolies inquiry was Peter Walker, the millionaire ex-partner in Slater 'Daily Telegraph' City editor Kenneth Fleet said yesterday: 'It is a deal that ought not to go through, certainly not on the terms agreed. It is debatable who is doing greater disservice to his shareholders, Sir Kenneth Keith (Hill Samuel) or Mr Jim Slater in conceiving and carrying through the merger.' The 'Telegraph' broadside comes after three consecutive blasts against the merger by the Jim Slater (lett) Slater But at the group's annual general meeting on Tuesday the silence was broken. An Stater to confirm c or deny anxious shareholder asked rumours that his health was failing.

Slater (44) bounced to his feet looking suntanned and fit.

The said.k, It is my present intention to spend he rest of my business and my natural life with this new company. And I hope the two coincide.

I've had a holiday in Rhodes and am feeling very fit. I would reconimend Rhodes for a break.' Havine given some unsolicited colones, Slater went on to more serious matters. carried a lengy and in Trun med the fasten Slater banking firm, Hill Samuel.

To read the majority of the City Press you could be excused for thinking that this move was piece IRRITATED criticism ta such He to be. It Times' irritated Slater. meeting in the City holders: '! am taking legal advice on it series of articles in Telegraph' and the in jeopardy, but a Business News staff of the 'Sunday Times'. • Last Sunday the paper stated in bold headline: "Shareholders should say no'. It went on:

'On Thursday, Slater Walker's offer to acquire the Hill Samuel Group will expire.

'We have been opposed this merger from the beginning, and, after exhaustive examination, we remain opposed. We remain convinced that this takeover should be referred to the Monopolies Commission for careful scrutiny on the grounds of size alone.

'The merger of Britain's two largest merchant banks to form an institution with gross assets of £1,500m certainly warrants more than a cursory dismissal.' Tonnad haunes and han from Rhodes holiday, but... of months: How is Jim Stater's health? past coupl questic mark over BLATER... How long will the smile last?