Henderson's New Star deal cut by £8m

In his opening address to the shareholder meeting today, Henderson chairman Rupert Pennant-Rea says the group had found "some ambiguities" in the way the previous price adjustment mechanism would work, so a new purchase figure was agreed this morning with New Star's bank syndicate. The £107m takeover will be funded by £44m of Henderson cash, about £46m has come from the placing of Henderson Group shares earlier this year and the rest will be in the of issuing new shares at completion of the deal. Pennant-Rea says the board recommends shareholders unanimously support all three resolution...