Gresham House set to be bought by US firm for £469.8m
The offer has been recommended by the Gresham board
The offer has been recommended by the Gresham board
‘The clock is now at one minute to midnight for the future of GAM’
Pre-tax profits and dividends also hit highs in 2022/23
Rumoured to have given prospective buyers until the end of July to table offers
Closing FUM of £16.85bn versus £16.79bn at the end of the previous quarter
Allegedly working with Goldman Sachs on a review of the business
Current market cycle ‘proving to be particularly powerful’
GAM board calls for shareholders to accept the deal
Following the appointment of Gabrielle Beaumont as CEO
Backed by 84% of votes at a general meeting held on 7 July
Deal will see the US private credit firm renamed ‘Man Varagon’
CEO Nikhil Rathi revealed they had been ongoing since mid-2021