CCP BidCo extends offer for ClearView
After increasing its stake in Clearview to 59.5 per cent earlier this month, CCP BidCo remains committed to purchasing the remainder of the company and has extended the take-over offer until 28 September.
However, Money Management understands the position of ClearView's board remains unchanged, with the managing director and most independent directors refusing to sell their stake.
Money Management also understands the board has not yet recommended to shareholders what the decision should be.
Earlier this month, CCP BidCo increased its stake in ClearView from 12.35 per cent to 59.5 per cent for $0.55 cents per share after a major shareholder, GPG, accepted the increased offer.
The offer period will now close at 7pm (Sydney time), 28 September, unless further extended.
Recommended for you
An FAAA recommendation to make PY advisers subject to non-compete clauses would place candidates in a “hostage situation” with their employer and potentially deter new entrants, say commentators.
While the profession struggles to keep up with strong consumer demand, a third of people who have passed the ASIC adviser exam aren’t actively practising, so where is this missing third?
Half a year after Count Financial told its advisers to exit several Metrics Credit Partners funds, research house Lonsec has now downgraded two of these products over governance concerns.
As the advice industry evolves with technology, two business consultants have said successful advice firms will be those which focus on delivering an “experience” for their clients, beyond just a transactional service.
