Peter Hall accepts WHSP offer
Former Hunter Hall founder and chief executive, Peter Hall and his associated entities have accepted the Washington H. Soul Pattinson (WHSP) Bidder’s takeover offer under which it will buy all of the shares in Hunter Hall International Limited which are not yet owned by WHSP.
Following this acceptance, WHSP had a relevant interest in approximately 44.2 per cent of Hunter Hall shares.
Under the revised WHSP cash offer, the offer consideration would comprise an unconditional offer price of $2.60 cash per Hunter Hall share, which is expected to close on 21 March.
The independent directors of Hunter Hall recommended the shareholders to reject the WHSP cash offer and, according to them, the Pengana merger represented a “materially superior proposal for Hunter Hall shareholders”.
In order to reject the offer, Hunter Hall shareholders are required to take no action.
Recommended for you
Rather than gathering new clients and launching new products, the key focus of asset managers right now is to ensure their existing clients are top priority in a bid to prevent outflows.
With US$4.45 million being the global average cost of a data breach in 2023 alongside the rapid explosion of AI, WTW has emphasised why governance efforts are critical in cyber risk management.
The ETF industry experienced $1.7 billion market cap decline in April, according to Betashares, even with positive inflows driven by international equities products.
Sophia Rahmani has officially begun her new role as managing director of Magellan with the intention to move to CEO within 12 months.
