The wrangling over the Swiss fund company GAM continues. The investor alliance NewGAMe is asking a Swiss federal authority for help.
The investor group NewGAMe, to which Bruellan also belongs, has asked the Swiss Takeover Board (TOB) to intervene. It wants to prevent Swiss fund house GAM from spreading misleading information about NewGAMe's offer, according to a media release on Tuesday.
«Undistorted Decision-Making Process»
Liontrust announced a three-day extension of the offer for all GAM shares at the beginning of the week, and GAM's board of directors subsequently solicited renewed support for the British asset manager's offer. In the process, NewGAMe's partial offer was discredited, it said. The investor group holds about 9.6 percent of GAM shares.
The alliance believes the TOB must intervene to ensure a fair and undistorted decision-making process for shareholders. At the same time, it underlines its commitment to the continued existence of GAM.
Keeping a Cool Head
The group reiterated the merits of its offer, urging shareholders to resist GAM's tactics and evaluate their options with a cool head.
NewGAMe is convinced it's in the shareholders' best interest not to accept Liontrust's offer and to remain invested in GAM. With a new team on board, the company can be successfully turned around and returned to profitability and growth, he said.
