AssetCo and Premier Miton given extension in River & Mercantile takeover talks

Discussions ongoing

clock • 1 min read

The board of River and Mercantile Group has agreed to an extension to the date by which AssetCo and Premier Miton are required either to announce a “firm intention” to make an offer of acquisition or whether it does not intend to continue.

The firms, which entered a bidding war recently, have been given until 5pm on 18 January to make their intentions over acquiring River and Mercantile clear, with the possibility of a further extension thereafter. The AssetCo board, chaired by Martin Gilbert, continues to believe that both firms are "highly complementary" and that a combination of AssetCo and RMG Asset Management would create "significant" value for the combined group's clients, portfolio managers, employees and shareholders. Campbell Fleming, chief executive officer at AssetCo, said: "We note that the Board of River a...

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