AssetCo agrees River and Mercantile takeover

Under the terms of the acquisition, RMG shareholders will be entitled to receive 0.07392 AssetCo new shares for each RMG share they hold. Based on a closing price of 1,550 pence per AssetCo share, the acquisition values each RMG share at 114.6 pence, with the group's entire issued and to be issued ordinary share capital valued at approximately £98.8m. Taken together with the acquisition and return of capital, RMG's entire share capital is valued at approximately £289m. Jonathan Dawson, chairman of River and Mercantile Group, said: "The board believes that the offer from AssetCo not...