The full details of the proposed merger between Alliance Trust and Witan have been outlined, which include a discounted cash option for Witan shareholders if the deal goes ahead.
The two companies announced plans to merge into a near £5bn vehicle, set to be named Alliance Witan, back in June. The deal will see Witan enter into a voluntary wind-up before being brought under Alliance trust management and follow the latter's investment scheme. Alliance Trust and Witan merge to form £5bn FTSE 100 vehicle Details of the scheme stated new trust will have its risk managed by WTW to ensure that the portfolio "is well diversified and risk balanced", with no excessive exposure relative to the Benchmark to regions, sectors or styles. The scheme ...
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