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Liontrust-GAM activist ‘very optimistic’ he can block merger

Albert Saporta claims there is a low level of support for the deal among major shareholders

By David Ricketts
Silchester Investors, GAM’s largest investor, last month said it would tender its shares in support of the Liontrust bid
Silchester Investors, GAM’s largest investor, last month said it would tender its shares in support of the Liontrust bid Photo: Alamy Stock Photo

The hedge fund veteran leading a campaign against Liontrust’s GAM takeover is “very optimistic” shareholders will reject the offer as a crucial deadline looms for investors to back the deal.

London-listed Liontrust made a £96m offer for the Swiss asset manager in May, but an activist group called NewGAMe has made several attempts to derail the bid.

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