Manage Accounts moves to acquire Linear

Publicly-listed Managed Accounts Holdings Limited has moved to acquire Linear Financial holdings and has signed a Memorandum of Understanding with Shaw and Partners to explore a partnership to deliver managed accounts solutions.

The Linear transaction was announced by Managed Accounts Holdings to the Australian Securities Exchange (ASX) today with the company saying it had submitted a non-binding conditional proposal to acquire 100 per cent of the shares in Linear.

It said the transaction would be transformative for both companies and create a merged entity with significant operating scale and an extended suite of products and services for independent advisor market, stockbrokers, investment managers and the institutional market.

Related News:

The ASX announcement said the transaction had the unanimous support of the Linear Board and was being recommended to Linear shareholders.

Linear is a provider of platform and administration solutions with in excess of $9 billion in funds under management.

The ASX announcement said the merger was expected to be double digit earnings per share accretive to Managed Accounts shareholders, post synergies on a pro-forma basis.

Related Content

GBST profit up despite challenges

Publicly-listed platform and wealth management technology provider, GBST has managed to report a strong first half recovery despite challenges within ...more

Chant and West depart Chant West

The two founders of superannuation ratings and research house, Chant West, Warren Chant and Andrea West have departed the company.The now publicly-lis...more

GSFM adds new funds to ASX

Grant Samuel Funds Management (GSFM) has added three of its international equities funds to the Australian Securities Exchange (ASX) mFunds settlement...more



Add new comment