GAM investor group calls for takeover board to impose final deadline on Liontrust deal

Open letter to Liontrust CEO John Ions

Investor group NewGAMe SA has published an open letter to Liontrust CEO John Ions calling for the Swiss Takeover Board to enforce a final date for the tender offer to be reviewed.

Liontrust announced further delays to the offer period last week, extending it by four days, the second extension to the offer period, which was initially set to expire on 25 July. 'Infuriated' GAM investor group hits back at Liontrust in emotional open letter to shareholders NewGAMe said: "We expect that you will extend it further because Liontrust, GAM and your advisers must know perfectly well that in a takeover situation, the rule set up by the Takeover Board is that if a tender offer is extended over the publication of the target's results, the tender must run for at least ten tr...