View more on these topics

Premier managers set to seal MBO

The senior management of Premier Asset Management has pushed through their proposed management buyout at the second attempt.

The team’s management buyout vehicle Harvard Bidco has announced that the offer is set to go wholly unconditional after it passed the required target of 75 per cent of shares to take the company private.

Harvard initially met opposition to the deal from several shareholders, but had acquired over 53 per cent of shareholders’ approval by August 24 and acquired a further stake of just over 20 per cent, bringing the total to 78.22 per cent

The final offer for the remaining shareholders closes on September 11 with Harvard Bidco set to request that Premier ask the London Stock Exchange for the cancellation of Premier shares on AIM.

Premier chief executive Mike O’Shea says: “The offer has gone unconditional despite the resistance of the likes of the Water Hall Group, we will now look to de-list as Premier becomes an intermediary holding company for Harvard Bidco.”

Recommended

41 per cent of borrowers feel ‘extremely worried’ about rate rises says IF

New ICM research commissioned by Intelligent Finance has found that 41 per cent of borrowers feel ‘extremely worried’ in anticipation of the Bank of England’s decision.The Bank of England has raised interest rates five times in the last 12 months, and commentators suggest further increases are likely in the coming months. Yet only a quarter […]

ASA challenges Churchill over renewal claim

Churchill Insurance has been rapped by the Advertising Standards Authority for making misleading claims in its Challenge Churchill campaign.The ASA has ordered Churchill to change its TV and radio adverts which claim it will beat anyone’s renewal price for car insurance if they have made no claims in three years, after seven people complained that […]

Pension peril

Nicola York reports on fears about the RDR’s effect on pensions

NU enhances out-patient treatment for healthcare customers

Norwich Union Healthcare is introducing enhanced policy benefits on out-patient treatment for acute psychiatric conditions. The change will see improvements to the specialist referral process and the introduction of criteria for therapist recognition for all healthcare policies with out-patient psychiatric benefit.NU Healthcare says the streamlined referral process ensures a speedier and more efficient claims process. […]

US equity income: the standout market

By James Hackman, head of US Equities at Neptune With a growing dividend market, very low payout ratios and high dividend cover, the US is one of the standout equity income markets globally. It is also one of the most unloved. James Hackman, manager of the top-performing Neptune US Income Fund, highlights six key facts […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment