Investor group NewGAMe has accused Liontrust CEO John Ions of distributing "misleading communications" ahead of today's (23 August) offer deadline, which it has described as "bordering [on] illegality".
In a letter to shareholders sent on Tuesday (22 August), the investor group alleged that Ions had lied in a letter to GAM shareholders about the views of one of the firm's major external managers. On 20 August, Liontrust head of corporate development David Boyle contacted a number of GAM shareholders in Ions' name. In an email, Ions said he had discussed the scenario in which the Liontrust bid fails and NewGAMe acquires a partial stake in GAM with John Seo, co-founder and managing director of Fermat Capital, a key third-party manager for which GAM undertakes distribution outside the U...
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