F&C shareholders approve Thames River acquisition

F&C shareholders have approved the company's proposed £53.6m takeover of Thames River.

At an AGM this morning,  shareholders voted in favour of the deal which includes the formation of a new holdng company and the issue of new shares. F&C announced the deal at the end of April. The transaction comprises a consideration of £33.6m and conditional consideration of up to a further £20m payable in cash, loan notes and/or F&C shares. Under the terms of the deal, Thames River will continue to run as a separate business. However, the companies' retail multi-manager portfolios are due to merge under the management of Thames River's Rob Burdett and Gary Potter. Dean Cheeseman ...