Investor group NewGAMe and Bruellan, which own 9.5% of GAM's stock, has today (18 July) made a partial counteroffer to Liontrust’s bid for the firm, valuing it higher than the original offer.
The group, which has pushed for GAM shareholders to reject the offer from Liontrust, offered to purchase up to 28 million GAM shares, approximately 17.5% of the issued capital of the firm, at CHF 0.55 (49p) per share. GAM investor group hits back at Liontrust CEO over 'value-destructive M&A' track record The offer price represents a 31.9% to the closing price of the GAM shares yesterday (17 July), and a 29.1% premium on the offer made by Liontrust. Furthermore, the investor group noted, the offer would be paid in cash over Liontrust's offer of its own shares. The offer prosp...
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