The £42m Quilter/Lighthouse deal is likely to go ahead but there may be "price refinement" before the transaction is complete, a firm that specialises in merger and acquisitions has said.
On Monday (15 April), Lighthouse put Intrinsic's £42.2m cash offer to buy the firm to a shareholder vote. In order for the deal to go through, it will require at least 75% of the shareholder value present at the meeting to vote in favour of the offer. After the cash offer was revealed less than two weeks ago, shareholder Cavendish Asset Management argued the £42m offer was low "for a business with blue-chip clients and good growth potential". Cavendish fund manager Paul Mumford said there "must be plenty of other suitors interested in buying the company" at a price that would reflect its...
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