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
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
L1 Capital, which is in talks to merge with Platinum Asset Management, has indicated it will be voting against a deal to convert a Platinum LIC into an ETF.
Evidentia Group has hired a head of quantitative investments who joins the investment firm and managed account provider from AMP.
Fidelity International has worked in tandem with Australian wealth manager Emanuel Whybourne & Loehr to launch an actively managed global equities strategy aimed at financial advisers.
