Premier Miton Group has withdrawn from acquisition discussions with the board of River and Mercantile Group (RMG) and has confirmed that it will not be making any offer, meanwhile AssetCo has five days to make its intention clear.
The update comes after an initial statement in November 2021 confirming that Premier Miton Group had approached the RMG board to explore a potential acquisition of the entire issued and to be issued share capital. Mike O'Shea, PMI's chief executive said: "We are most grateful to the Board of RMG for their co-operation and assistance as we have assessed the merits of a possible transaction, especially so given the major changes ongoing in their business. "We have concluded that there are insufficient commercial merits for our shareholders to make a formal proposal for the acquisition ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
