Investec Wealth, the largest shareholder in Brevan Howard’s hedge fund Macro, has asked the board to explore a merger with Brevan Howard’s Global fund, in which it also holds a substantial stake.
The board of BH Macro (BHMG) said Investec's proposal was "a positive suggestion" and that it "would welcome the opportunity to enter into discussions with the BHGG board as soon as practicable" regarding the possible combination of the two companies. Brevan Howard demands fee increase on BH Macro - but has it shot itself in the foot? Investec wants the two to start merger talks before the launch of the tender offers that have been previously announced by each company following shareholder approval of the changes to their respective management agreements in March. "Instead of eac...
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