Lighthouse Group Investors Approve GBP46 Million Takeover By Quilter

Fri, 10th May 2019 11:44

LONDON (Alliance News) - Lighthouse Group PLC said Friday that investors had approved the GBP46.2 million cash takeover of the financial advice firm by wealth manager Quilter PLC.

Last Friday, Quilter - part of Old Mutual Ltd until June 2018 - made a 33 pence per share cash offer for Lighthouse which represented a 25% premium to its share price at the time. Shares in Lighthouse were 1.0% lower at 32.66 pence on Friday.

Quilter shares were up 0.5% at 143.90p.

On Friday, Lighthouse confirmed that shareholders who had voted were 92% in favour of the deal.

Lighthouse has previously stated that the deal is expected to complete in the second quarter of 2019.