WAM Capital’s takeover over now unconditional
WAM Capital (WAM) has declared that its takeover bid for the entire issued share capital of Wealth Defender Equities (WDE) is now unconditional after earlier this month the independent directors of WDE had recommended its shareholders accept the offer, free of defeating conditions.
Under the terms of the agreement, all WDE shareholders who would accept WAM Capital’s offer before it closes on 26 October, would receive WAM Capital shares on 2 November, paid as a fully franked WAM Capital final dividend of 7.75 cents per share on 26 November.
At the same time, the firm warned those of its shareholders who chose not to accept the WAM offer that:
- WDE’s share price was expected to fall,
- WDE might be delisted from the Australian Exchange Securities,
- And that they would not receive the fully franked WAM Capital dividend.
AUTHOR
Oksana Patron
Recommended for you
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
One of Metrics’ four managing partners is to step back from the business next year, having worked at the firm since its inception in 2011.
VanEck’s Bitcoin ETF has amassed $290 million in assets in its first year, but the ETF provider has said financial advisers remain skeptical of the asset.
State Street has rebranded its State Street Global Advisors arm, which has US$4.6 trillion in assets under management, following a series of deals with financial services firms in recent months.
