The board of the £679.8m Scottish Investment trust (SCIN) is proposing a merger with the £735.2m JP Morgan Global Growth & Income trust (JGGI), following a strategic review.
In a stock exchange announcement, the board of SCIN said "JGGI and SCIN were both established in 1887, and the combination of the two companies will combine the proud histories of each". James Will, the chairman of SCIN, added: "The board undertook a lengthy and robust review process and considered a wide range of options for the company. Ultimately, the proposal to combine the Scottish Investment Trust with JPMorgan Global Growth & Income was considered the most compelling outcome for shareholders, allowing for the creation of a company with an enlarged net asset base of in excess of £...
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