Asset manager Liontrust has extended the main offer period for its proposed acquisition of GAM.
In an update on Friday (28 July), the firm announced GAM shareholders will have until 4 August to tender their shares in support of the bid.
This is the second extension to the deadline in a week, with the offer period originally due to expire on 25 July, before it was extended by three days.
Shareholders now have a further week to weigh up the bid.
The extension comes as GAM investor group NewGAMe and Bruellan continues to oppose the Liontrust takeover.
Earlier in July, NewGAMe and Bruellan tabled a partial cash offer for 28 million GAM shares at CHF 0.55 (49p) each.
This represented a 29.1% premium on the value of the Liontrust offer which they are seeking to scupper.
The investor group already owns around 9.6% of GAM and if the offer becomes fully subscribed they would own another 17.5%, bringing the total to 27.1%.
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