GAM rejects alternative offer to Liontrust bid

Valeria Martinez
clock • 2 min read

Entrepreneur Marco Garzetti's Taure AG alternative offer to Liontrust' Asset Management's bid for GAM Holding AG in hopes of keeping the Swiss group independent, has been rejected due to "materially" undervaluing the firm.  In a statement on Friday (19 May), the firm confirmed it had rejected the offer from Taure AG on May 3 as the offer did not eliminate the significant risks of GAM remaining an independent firm and was not in the best interests of all other stakeholders. Earlier this month, Liontrust conditionally agreed to acquire GAM in a deal that values the struggling asset mana...

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