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Why the drop today?
£5 and below is a distinct possibility, given their position and broader market sentiment. Let us see if LIO can stem the outflows and somehow beat the malaise around equities performance at the mo.
I sold this when it was above 610. Not buying back till 500 at least
Ahead of the interim results in November (which surely are going to show continued outflows?) it would be good to hear from management on the strategy for growth and diversification, given the failure of the GAM acquisition and the over-reliance on Uk equities (which are out of favour by LIO's own admission)
Who are they and what's their form? Taking a 5% stake or am I misreading the RNS?
Anyone here going to the Savoy tomorrow? A summary of the mood would be gratefully received.
That is a curt RNS on the failure of the Offer and the right of LIO to the repayment of the £8.9m contingent support that it provided to GAM. Let us see if it exercises that right immediately. But more importantly, it would be good to hear what Plan B and Plan C is in consideration to fulfil LIO's strategic ambitions.
It felt like the market was marking down the deal over the past months, so not surprised at the rise today. Pretty stark failure by LIO to convince GAM shareholders. Let's see what other options to build asset size and investment options LIO now explores and what happens with inflows/outflows in the remainder of the year.
Expect more recovery in the share price as investors cheer the pending result that ' Their bid has failed to attract 66% of GAM shareholders. So now the company will not be spending out on this aquisition. So more money in their bank.
Unfortunately they’ll probably start looking for another big acquisition, which the market will hate even more
Market looks relieved - for now. One step too far for them?
Alliance News) - Liontrust Asset Management PLC on Thursday said it expects to declare its offer to buy GAM Holding AG unsuccessful, after winning the support of only a third of the Zurich-based firm's shareholders.
The minimum acceptance condition for the bid was just over 66%, according to an earlier offer document, so the FTSE 250 listing fell well short of the support needed.
Liontrust currently expects to declare the offer unsuccessful on Tuesday next week. GAM shareholders had until Wednesday of this week to tender shares.
So what happens with the tendered offer of GAM shares already held or are they not held. Not an expert on these.
Make or break time for the deal. Let us see what RNSs issue tomorrow and Thursday.
Navyrret, anything is possible in the long-term, I suppose. I guess we inevitable have to consider if there are clearer and more profitable investments to be made whilst waiting for LIO to rise.
Sold out on Friday, will probably buy back in after the merger. So much uncertainties right now with this stock.
Not sustainable, data speaks itself really
Motley Fool Tip:
FTSE 250-listed Liontrust Asset Management has been hit by investor outflows and uncertainty over its £96m acquisition of Swiss asset manager GAM, but could roar again when the stock market rally arrives. Liontrust maintained its dividend despite a dip in profits and it now yields a whopping 11.04%.
GAMNE is in a pickle.. withdrew EGM resolutions .. looks like they haven't the guts to put their case to a vote without GAM being in a potential squeeze later...therefore they are opportunists .. market says they are dead in the water -- as reflected in SP today
Something's strange. Buys are multiples of sells but still the SP is marked down. Oh well, it's a great company, long-term and all that.
I’ve just started looking into this especially at current price. How safe is the dividend here. They paid out a similar amount last two years..is it sustainable ?
Thanks
Good luck mate, lets both hop things work out long and short term!!!
I have today added to my sizeable investment in LIO. Plan to hold this company for the for the next 20+ years, just think where the SP will be then as well as the Dividend CAGR.