Major GAM shareholder pushes back on Liontrust takeover deal - reports

GAM's third largest shareholder Global Emerging Markets group (Gem) has stated it does not support Liontrust Asset Management's bid to take over the Swiss firm - according to an email seen by Bloomberg, and reported by sister website Investment Week. The email suggests the New York-based alternatives asset manager said it had decided not to accept Liontrust's takeover offer of the firm. Gem held a stake of 6.5% in GAM through its Global Yield fund as of May, according to data compiled by Bloomberg. All three parties have been contacted for comment. The pushback presents another cha...