Liontrust extends main offer period for GAM Holdings

24th Jul 2023 09:09

(Sharecast News) - Liontrust Asset Management extended the offer period for its proposed acquisition of GAM Holdings AG.

The period was extended by three days until 28 July.

Liontrust said that the extension would allow GAM's shareholders more time to consider Liontrust's waiver of the FMS Exit condition, by which it sell its fund management services in Luxembourg and Switzerland.

It would also give them more time to analyse Liontrust's own offer and the impications of a partial offer for 17.5% of GAM's shares by NewGame SA made on 18 June.

"The Proposed Acquisition is the best way to ensure a future for GAM and a positive outcome for its shareholders and clients.

"[...] Liontrust also notes that GAM's senior investment managers have written a second letter to its Board stressing their strong support for the Liontrust offer."