Investor group NewGAMe and Bruellan, which holds a 9.6% stake in GAM, has accused the Swiss asset manager of “spreading misleading information” about its partial cash tender offer.
In a statement on Monday (24 July) about Liontrust's waiver of the sale of GAM's fund management services business as a condition for the takeover deal, the firm said NewGAMe's offer to increase its stake to 17.5% included a "highly questionable condition that NewGAMe gets full control of the GAM board". Despite not disputing this, the investor group pushed back, arguing that GAM failed to disclose the Liontrust offer "is subject to similar conditions". Liontrust waives FMS sale condition from GAM offer Additionally, GAM said the Swiss Takeover Board will need to rule on NewGAMe's ...
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