The Alliance and Second Alliance investment trusts have received shareholder approval to merge, with...
The Alliance and Second Alliance investment trusts have received shareholder approval to merge, with shares in the enlarged vehicle due to start trading on 21 June. Following a shareholder vote last week, 99.57% of voting Alliance shareholders approved the move while 85% of voting Second Alliance shareholders were in favour. Once the vehicles combine, they will trade under the Alliance trust banner and will have a combined value of some £2.9bn, according to figures from Standard & Poor's. As part of the merger, holders of the existing Alliance trust will retain their shares but they will ...
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