Liontrust has extended its offer window for Gam shareholders for the second time in a week.
The fund management group is in the process of trying to take over Gam, the Swiss-based asset management company.
The main offer period has been extended for another four days until August 4 - the original deadline was July 25.
It is just days since the company made its first extension to the deadline and waived the fund management services exit condition.
It comes after back and forth between Liontrust and rebel investor group NewGAMe which launched its own partial cash counter offer on July 18.
In a statement, issued today (July 28), Liontrust said: “The main offer period is being extended to give additional time for Liontrust to engage in constructive discussions with Gam shareholders, including NewGAMe, and allow shareholders to consider the series of additional announcements Liontrust has issued in relation to the proposed acquisition.
“Liontrust has made an offer for the entire issued share capital of Gam that it believes will provide a positive outcome for Gam’s shareholders, clients and employees including its investment managers.”
On Tuesday (July 25) NewGAMe, which controls more than 9 per cent of Gam, claimed the Swiss company has been “spreading misleading information” and called on the Swiss Takeover Board to intervene.
tara.o'connor@ft.com
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