GAM investor group changes CEO candidate on eve of EGM
Chief risk officer Elmar Zumbuehl replaces Randel Freeman, who has withdrawn due to unforeseen family circumstances
Chief risk officer Elmar Zumbuehl replaces Randel Freeman, who has withdrawn due to unforeseen family circumstances
Due to uncertainty over the Swiss asset manager’s future
The CAPE ratio for US stocks is ‘well above’ its long-term average
After the investor group agrees to provide £18m short-term financing to GAM
Liontrust’s protracted attempt to acquire GAM came to an unsuccessful conclusion last week
Peel Hunt analysts said further deals could be possible with Liontrust as ‘predator or target’
34% of GAM shares were tendered into the offer
Investor group NewGAMe has raised a complaint to the Swiss Takeover Board
Rock suggested the asset manager issue a £22m convertible bond
The meeting was planned to give shareholders a vote on proposals made by Rock Investment
Board ‘determined’ to go forward as planned despite Liontrust offer period extension
FCA has granted approval for the proposed takeover