Liontrust's management buyout plans halted

Discussions over a management buy-out at Liontrust Asset Management have been terminated. The London-listed asset manager announced on 5 November 2004 that a tentative, management-initiated approach had been received, which might or might not have led to an offer. On 30 November, Liontrust revealed that it had not proved possible "within a reasonable timetable to agree the terms of an acceptable proposal to be put to shareholders. Discussions have therefore been terminated." Bernard Asher, chairman of Liontrust, added that expectations for profits before tax for the year to 31 March 2005 re...