Liontrust is to pay 30 per cent less for Occam due to a fall in the emerging market specialist’s assets under management.
The group first announced in August it was to buy the firm and a clause in the agreement allowed it to scrap the bid if assets fell below $150m (£97m). Occam had £124 million in August when Liontrust announced the deal worth £3.9m.
However, in a statement this morning, Liontrust confirmed the deal would still go through but for a reduced price.
A statement says: “The conclusion of this assessment is that, notwithstanding the fall in assets in management, it remains the board’s view that it is in the best interests of the shareholders of the company to complete the acquisition but on the basis of a reduced level of consideration.”
It added: “Liontrust has been in further negotiations with Occam and, on 4 October 2011, entered into a variation agreement to the Agreement with Occam, such that the total consideration due under the amended agreement is reduced by 30 per cent.”
A final price will be revealed shortly.