News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Asset Management

Liontrust says GAM offer is final as activist group urges shareholders to hold out

NewGAMe director Albert Saporta: 'Any rational investor... agreeing that the offer is not fair should therefore wait until the last minute to tender'

The group said even if GAM shareholders do not agree with its turnaround plan they should delay their decision to tender shares
The group said even if GAM shareholders do not agree with its turnaround plan they should delay their decision to tender shares Photo: Alamy Stock Photo

Liontrust, the UK-based asset manager that has tabled a bid for GAM, has said its offer for the Swiss fund house is “full and final” and will not be increased.

It comes after the activist investor group trying to thwart Liontrust's takeover issued another open letter to shareholders, urging them to delay tendering their shares “until as late as possible” in an attempt to achieve a better deal.

WSJ Logo