Horlick in hostile bid for Bramdean assets

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Nicola Horlick is planning a hostile takeover of the Bramdean Alternatives portfolio she manages, after it knocked back her bid to buy out its assets.

The Bramdean Alternatives board announced to the Stock Exchange yesterday it was terminating discussions with the bidder. The statement clarifies the alternative assets investment trust is still for sale and adds shareholders will be given a reconstruction plan after an EGM on Friday. It was revealed Horlick had discussions regarding a takeover of the fund earlier this month, after the company initially claimed it was in discussions with an anonymous bidder in April. Property tycoon Vincent Tchenguiz, a 28% shareholder in Bramdean Alternatives, through his company Elsina, made a move in...

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