GBST rebuffs another FNZ proposal
Publicly-listed financial services technology provider, GBST has entered the week in a trading halt on the Australian Securities Exchange (ASX) after again knocking back a takeover proposal from New Zealand-based FNZ Group and persisting with due diligence from SS&C.
GBST announced the trading halt late on Friday after informing the ASX that it had received a further proposal from the FNZ holding company but suggested that it was accompanied by unreasonable conditions and did not provide a reasonable period of time for the parties to enter into good faith discussions.
It said that on that basis, and as previously announced, SS&C would be continuing with its exclusive due diligence aimed at facilitating a binding offer reflecting the terms of its latest proposal at $3.60 per share.
Last week’s bid by FNZ was the latest in a series on the part of the company.
Recommended for you
At least two-thirds of ETF flows are understood to be driven by intermediaries, according to Global X, as net flows into Australian ETFs spike 97 per cent in the first half of 2025.
Inflows for the first half of 2025 for GQG Partners stand at US$8 billion, but the firm has flagged fund underperformance could be a headwind for future flows.
BlackRock has announced its plan to acquire real estate investment firm ElmTree Funds which will be integrated into its new private financing solutions business.
With share price growth of 45 per cent for FY25, Australian Ethical has shared why it believes the firm has done so well compared to its active peers.
