Thesis AM receives £47m bid from newly-formed Regit Bidco

Combat industry headwinds

Newly-formed company Regit Bidco has made a £47m cash offer for Thesis Asset Management, which independent directors of the firm intend to recommend to shareholders.

Under the proposed deal, which is subject to FCA approval, the estimated aggregate consideration to be paid for each ordinary share will be approximately £52.0527. Bidco is a newly incorporated company formed by a consortium (including existing Thesis directors David Tyerman and Stephen Mugford) for the purpose of making and implementing the acquisition. It was founded by former Paloman Capital partner Daniel Mytnik. An independent committee of Thesis directors has now been established to further consider the offer. This includes non-executive directors Anthony Edwards, Anne Gilbert, ...