The board of the Bramdean Alternatives fund has terminated takeover talks with Petersfield Asset Management, a company owned by Nicola Horlick.
In an announcement to the London Stock Exchange, the board of Bramdean Alternatives said Petersfield has not withdrawn the approach it made on April 30, which means the company effectively remains in an offer period.
There is speculation that Horlick, the founder of Bramdean Asset Management and manager of Bramdean Alternatives, may begin a hostile takeover bid
The directors of Bramdean Alternatives, a Guernsey-based investment company, are proposing a corporate restructure, giving investors the choice to cash in holdings or continue to invest. Shareholders will be consulted at an extraordinary general meeting (EGM) on June 18.