Liontrust CEO John Ions has written an open letter to GAM shareholders in a bid to encourage backing for the asset manager’s “good and fair” acquisition offer.
GAM shareholders have just over a week left to tender their shares in support of the deal, which Ions highlighted is the only one on the table and the only proposal that "provides a viable solution for the business leading to a positive outcome for shareholders". He said the clock is now "at one minute to midnight for the future of GAM", adding the company is a "loss-making business" needing "significant restructuring" to return to profitability, especially after its external auditors shared uncertainty about the company's ability to continue without external funding. GAM's largest sh...
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