(Alliance News) - Premier Asset Management Group PLC on Thursday said the UK Financial Conduct Authority has approved its merger with peer Miton Group PLC.
This transaction, which would create a business with assets of over GBP11 billion, was first announced in mid-September.
The merger remains subject to final approval at a Court hearing scheduled for November 13, the company said. The merger effective date is expected to be November 14.
Premier Asset Management shares closed 1.0% higher in London on Thursday at 178.84 pence each, while Miton shares ended the day up 2.2% at 56.00p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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