Manchester & London finalises bid terms

20th May 2010 16:21

Manchester & London Investment Trust has announced the final terms of its recommended bid for fellow investment trust Stakeholders Momentum Investment Trust. The bid, which is based on the Formula Asset Value which is based on respective NAV of each of the companies' shares, was declared unconditional on 19 May. SMIT shareholders will receive 0.8784 of a Manchester & London share for each of their shares. This is based on a Manchester & London NAV of 340.58p a share.

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