AssetCo agrees all-share acquisition of River and Mercantile

R&M shareholders to own 41.6%

The board of River and Mercantile Group has reached an agreement with AssetCo for an all-share acquisition by the Martin Gilbert-chaired group.

Under the terms of the acquisition, RMG shareholders will be entitled to receive 0.07392 AssetCo new shares for each RMG share they hold. Based on a closing price of 1,550 pence per AssetCo share, the acquisition values each RMG share at 114.6 pence, with the group's entire issued and to be issued ordinary share capital valued at approximately £98.8m. River and Mercantile sells UK solutions division to Schroders for £230m Alongside the acquisition, shareholders are also set to benefit from the recent sale of RMG's solutions arm to Schroders through a return of capital, which combin...