PRESS: AssetCo close to agreeing deal to buy River & Mercantile

(Alliance News) - AssetCo PLC is on the verge of acquiring River & Mercantile Group PLC, Sky News ...

Alliance News 24 January, 2022 | 7:04PM
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(Alliance News) - AssetCo PLC is on the verge of acquiring River & Mercantile Group PLC, Sky News reported on Monday.

AssetCo could announce as early as Tuesday that it has struck a deal to buy the asset manager, Sky News added.

Negotiations between the parties are ongoing but a deal is not certain to be struck before a 5pm Takeover Panel deadline on Tuesday, Sky News reported, citing city sources.

https://news.sky.com/story/asset-management-veteran-gilbert-closes-in-on-deal-to-buy-river-and-mercantile-12524581

AssetCo has circled River & Mercantile for a number of months. In November, both AssetCo and fellow London listing Premier Miton Group PLC confirmed they initiated discussions with River & Mercantile.

Earlier in January, Premier Miton decided against bidding for the asset manager.

River & Mercantile shares closed 1.3% lower at 296.00 pence each in London on Monday. The company has a market capitalisation of GBP252.9 million. AssetCo shares closed up 1.8% at 1,522.00p each.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
River and Mercantile Group PLC
AssetCo PLC 33.00 GBX 0.00 -
Premier Miton Group PLC 64.00 GBX 0.79 -

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