Liontrust’s £96m bid for Swiss asset management firm GAM, which was tabled in May, has been under constant attack from a cohort of investors that has urged other shareholders to reject it.
On 18 July, the investor group — known as NewGAMe — announced a partial cash offer for GAM, purchasing up to 28 million shares in the business. The offer of CHF0.55 per share is at a 29.1% premium to Liontrust’s all-share bid.
