GAM's largest shareholder backs sale to Liontrust

Silchester International Investors

GAM’s largest shareholder, Silchester International Investors, has voiced its support for the proposed takeover by Liontrust Asset Management.

Silchester holds 17.3% of GAM's share capital and said it will tender its shares into the Liontrust offer, arguing it is in the best interests of GAM's clients to go ahead with the sale as there is no viable alternatives. The firm has been a GAM shareholder since 2011. GAM urges shareholders to accept Liontrust bid GAM's board of directors and group management board have already agreed to tender their shares, as the offer period for the deal started on 28 June and is due to expire on 25 July - with GAM expecting to publish the final results of the main offer period on 31 July. If t...