Liontrust Asset Management Share Discussion Threads

[trident5] 19/8/2023 08:50

There's three possible outcomes for Liontrust now: their bid is successful, it's unsuccessful and they walk away, it's unsuccessful and they come back with a higher offer.

It looks to be one of the latter two, with the market pricing suggesting a bracing for a higher offer and an extended period of uncertainty for investors in both managers' funds.

I'd guess that anything but a higher offer would lead to some recovery in Liontrust's bombed out share price.

[uzes] 16/8/2023 13:58

The NewGAMe website indicates they can compute the % of GAM stock tendered to support the Liontrust deal. The website at the top has a graphic indicating the %. It says 32.7% as at 15/8. There is a note that explains how they compute this using information from the Swiss exchange.

[stevenlondon3] 16/8/2023 11:05

Just 4,000 GAM shares dealt today noon.

[spectoacc] 16/8/2023 06:25

They need GAM to mask their own current performance - and going to be some hefty "non-recurring" costs if it all falls through.

Market will certainly pass its judgement if they raise again tho.

[stevenlondon3] 16/8/2023 06:17

GAM price fell back to 50c yesterday but I think Liontrust's bid is currently worth around 38c. A big mistake by Liontrust would be to raise the value of the bid. The volumes of GAM shares dealt each day are very low. An instutuional investor would
have difficulty in shifting much stock.

[topvest] 11/8/2023 10:00

An interesting alternative is that the deal fails, but a number of the highly rated GAM fund managers move to Liontrust anyway. All a bit of a mess though. GAM will go bust if the deal falls away in most likelihood.

[tongostl] 11/8/2023 08:02

On a PE of 10.4 with virtually zero chance of growth, I'd say LIO is on par value now.

I'd expect the DIV to be cut within 12 months too. Its unsustainable.

[trident5] 10/8/2023 22:13

Really looks like this won't proceed and ion Liontrust then walk away without a higher offer - I suspect the market will like it.

[uzes] 10/8/2023 19:01

Have a look on the NewGAMe website - there is an open letter to Ions....(in response to a letter from Ions). Arguably they take apart Liontrust and also state the Swiss exchange (SIX) accidentally published the shares tendered at 32.3%. So I think the price spiked on the hope the deal fails.

[2wild] 10/8/2023 14:06

We will find out on Friday the 18th percentage of shareholders who support the Lio deal.

[trident5] 10/8/2023 13:19

Looks like they're confident they have the votes to block the t/o.

[tempted] 10/8/2023 13:07

Missed it

A group of GAM investors has withdrawn its proposals for the group’s extraordinary general meeting after its request to delay the assembly was denied.
NewGAMe, which controls 9.6% of GAM shares, has repeatedly called for the EGM to be held once Liontrust's offer period had passed so investors could make an "informed choice" at EGM.

The EGM was initially set for 25 August, but it was brought forwards to 18 August after Liontrust extended its offer period, for a third time, to 23 August.

[tempted] 10/8/2023 12:55

Seems a strange move mid day, that said very good value here on many metrics and a strong divi, hoping we get a resolution soon, thinking of doubling holding will watch carefully

Post note, presume it could be a weekend tipster, don’t follow but is investors chronicle out tomorrow?

[thelongandtheshortandthetall] 10/8/2023 12:08

I bought another 100.
Hopefully gam news.
Good luck holders.

[thelongandtheshortandthetall] 10/8/2023 12:04

Interesting price spike there!
👍

[r2oo] 08/8/2023 11:08

Topped up again at these levels, tuck it away for 10 years... and add more along the way.

[thelongandtheshortandthetall] 04/8/2023 12:39

Personally I think clarity either way will help LIO.
Win win imo.

Preferably they get GAM for a song. 👍😋

[bjfanc] 04/8/2023 11:44

Well the share is down 40% and hence offer, so neither shareholder is happy.

[johnrxx99] 04/8/2023 09:51

Can't decide if this will fall or rise on a no deal.

[2wild] 04/8/2023 08:02

Nice big fat Lio dividend in my account this morning with interactive Investor.

[thelongandtheshortandthetall] 04/8/2023 07:17

There's obviously value in the GAM aquisition.
And another party is putting up a fight?

[trident5] 04/8/2023 07:03

Do we know when they'll announce the next extension?

[johnrxx99] 24/7/2023 09:33

I suspect there is arbitrage involved. If LIO stays firm, it should win.