LONDON (Alliance News) - Henderson International Income Trust PLC on Monday said it has reached an agreement in principle to merge with Henderson Global Trust PLC.
The deal could more than double the asset base and market capitalisation of the income trust, it said, and a shareholder meeting to consider the proposals will be convened as soon as practicable.
"Since launch in 2011 we have more than doubled the assets of the company by a combination of good investment performance and share issuance. We very much welcome the opportunity now to take the company to the next level by way of this proposed transaction," said Christopher Jonas, chairman of the Henderson International Income Trust.
The Bankers Investment Trust PLC, a FTSE 250-listed trust, also said it has reached an agreement to be offered as an alternative roll-over option for Henderson Global Trust investors who wish to retain a global growth mandate should the merger take place.
Henderson International Income Trust shares were untraded on Monday morning, having last traded at 116.00 pence, while Henderson Global Trust shares were up 4.6% to 362.00p. Bankers Investment Trust shares were up 0.4% to 581.50p.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Bankers Investment Trust (BNKR)
Henderson Int. (HINT)