Liontrust has removed the condition requiring GAM to sell its fund management services business from its acquisition offer, it said in an update today (24 July).
The sale of the Luxembourg and Switzerland business to Carne Group was first announced at the end of June and is currently under way, but it will no longer be a requirement for the M&A offer. The FMS sale is still expected to conclude in Q4 2023, Liontrust said. Investor group urges GAM shareholders to 'hold off' tendering to Liontrust offer As a result, the UK asset manager has extended the main period offer for the deal to 4pm on 28 July. "The purpose of the extension […] is to give GAM shareholders further time to consider the waiver of the FMS exit condition, Liontrust's offer ...
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