Shareholders of the Swiss fund company are being given yet more time to consider Liontrust's takeover offer. Meanwhile, GAM is receiving prominent support.
British asset manager Liontrust Asset Management has again extended the offer period in the takeover battle for GAM which now falls on August 23, giving GAM shareholders even more time to consider Liontrust's public exchange offer.
The preliminary announcement on the interim result of the offer is expected to be published on August 24, according to a media release from the Swiss fund company on Friday.
Key Voting Rights
GAM shareholders who have already tendered their shares in the Liontrust offer or intend to do so will be able to attend and vote at the extraordinary general meeting of shareholders on August 18. All shareholders listed in GAM's share register with voting rights on the August 9 record date are entitled to vote.
GAM further states that the US voting advisor ISS has published its recommendations, and recommends GAM shareholders vote against all proposals of the NewGAMe investor alliance at the EGM and follow the recommendations of GAM's Board of Directors.
List of Turnaround Measures
The investor alliance, which includes NewGAMe and Bruellan, published a 100-day plan on Thursday evening containing concrete measures to be taken in the initial phase of the turnaround of the Swiss fund company GAM.
