Platinum Asset Management Limited (ASX:PTM) Discusses Potential Merger with L1 Capital
Potential Merger Discussions
Platinum Asset Management Limited (ASX:PTM) is in preliminary discussions with L1 Capital shareholders regarding a potential merger. The merger could create an investment business with approximately A$18 billion in funds under management, offering greater scale, diverse investment strategies, and cost efficiencies.
Share Acquisition by L1 Capital
L1 Capital has acquired a 9.6% shareholding in Platinum from Mr Kerr Neilson and obtained a call option for an aggregate 19.9% shareholding. Platinum welcomes L1 Capital as a major shareholder, regardless of the merger outcome.
Executive Comments
CEO Jeff Peters stated, “L1 Capital is a first-class manager with a strong investment track record. The Potential Merger provides an attractive opportunity to combine expertise and resources, and we will continue to explore if it’s in the best interests of Platinum shareholders.”
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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