GAM’s board has pushed back on suggestions of a “conflict of interest” over its proposed takeover by Liontrust, in response to a group of its shareholders protesting the deal.
In a letter to one of its largest shareholders today (2 August), Rock Investment SAS, GAM's board argued that the £8.9m loan it had accepted from Liontrust did not constitute a conflict of interest in the proposed takeover. GAM investor group calls for takeover board to impose final deadline on Liontrust deal "To enable the GAM Group to continue as a going concern it was essential that GAM Holding AG secured liquidity for the group," it wrote. "The board does not consider it a conflict of interest to enter into such loan facilities with a third party which subsequently makes a ...
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