A cohort of GAM shareholders have raised further concerns to the Swiss Takeover Board regarding Liontrust Asset Management’s agreement to buy the former firm.
An investor group comprising NewGAMe SA and Bruellan, which has an approximately 8.4% collective stake in GAM, said it was concerned about the timetable of the proposed takeover and the "various exemptions" Liontrust had been granted in the deal, both factors the group felt could be disadvantageous to GAM shareholders. Liontrust agreed to purchase Swiss-based GAM for CHF 107m (£96m) last week (4 May) and under the current timetable, GAM's shareholders would have until 11 August to accept the deal. Investor group challenges Liontrust's valuation of GAM However, the group said that e...
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