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Top related persons:
Arnd - 3 Liontrust - 3 NewGAMe - 2 Bruellan - 2 Xavier Niel - 2 Aimee Donnellan - 2 Xavier Niel's NewGAMe - 1 Kanjyik Ghosh - 1
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Zurich Switzerland British Swiss Bengaluru Liontrust Paris France
Top related orgs:
GAM - 5 Thomson - 5 REUTERS - 4 Management - 2 NewGAMe SA - 1 Bruellan SA - 1 Swiss - 1 Rock Investment - 1

Search resuls for: "NewGAMe"


6 mentions found


☆ Swiss takeover board rules NewGAMe's partial offer for GAM shares complies with rules
  + stars: | 2023-09-01 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 31 (Reuters) - Switzerland's takeover board has ruled that a partial offer for up to 28 million shares of GAM Holding (GAMH.S) by an investor group comprising NewGAMe SA and Bruellan SA is in line with Swiss takeover rules, NewGAMe said on Thursday. The arrangement would be also that the investor group would propose new GAM board members at the upcoming extraordinary general meeting (EGM), where the fund manager's current board is expected to stand down. The regulator on Thursday also challenged the validity of the condition making NewGAME's offer conditional to Rock's candidates being elected to GAM's board, NewGAMe said. Last week, a takeover offer from Liontrust won the backing of just 33.64% of GAM's shareholders. ($1 = 0.8830 Swiss francs)Reporting by Kanjyik Ghosh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Arnd, NewGAMe, Xavier Niel's NewGAMe, Liontrust, Kanjyik Ghosh, Maju Samuel Organizations: REUTERS, GAM, NewGAMe SA, Bruellan SA, Swiss, Rock Investment, Swiss Financial Market Supervisory Authority, Thomson Locations: Zurich, Switzerland, Bengaluru
☆ GAM in talks with Niel's NewGAMe after Liontrust offer falters
  + stars: | 2023-08-24 | by ( Brenna Hughes Neghaiwi Noele Illien | Brenna Hughes Neghaiwi | Noele Illien | ) www.reuters.com   time to read: +3 min
REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Aug 24 (Reuters) - GAM (GAMH.S) has entered into discussions with French billionaire Xavier Niel's NewGAMe shareholder group after a takeover offer from Britain's Liontrust failed to gain the required level of support. "The GAM Board acknowledges that the majority of our shareholders have not found the Liontrust Offer compelling. GAM shares fell 5.08% shortly after market open, whereas Liontrust recorded a 10.37% gain. Liontrust had made its offer conditional on winning the backing of two-thirds of GAM's shareholders in a prospectus it published in June. The investor group, led by Niel's NewGAMe and asset manager Bruellan, have vehemently opposed the all-share offer, saying in July that it "grossly undervalues GAM".
Persons: Arnd, Xavier Niel's, Britain's Liontrust, Liontrust, GAM's, David Jacob, Niel's NewGAMe, Bruellan, Brenna Hughes, Friederike Heine, Jason Neely, Christina Fincher Organizations: REUTERS, Rights, GAM, Thomson Locations: Zurich, Switzerland, British, Liontrust
☆ GAM’s end game still has a way to go
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsMILAN, Aug 24 (Reuters Breakingviews) - GAM’s (GAMH.S) long-running takeover saga has entered a critical phase. The ball is now with the opposing shareholders, which control nearly 10% of the asset manager. The NewGAMe crowd has proposed issuing a 25 million Swiss franc convertible bond to give GAM some breathing space. But this won’t cover expected losses, restructuring charges and pension costs amounting to at least 100 million Swiss francs, GAM has calculated. As things stand, to win the game of rescuing this embattled asset manager, investors will have to dig deep.
Persons: Xavier Niel, Sarah Meyssonnier, NewGAMe’s, Lisa Jucca, Coinbase’s, Aimee Donnellan, Streisand Neto Organizations: French, REUTERS, Reuters, Management, GAM, X, Thomson Locations: Paris, France, French, Ukraine
☆ Liontrust faces $14 million one-off charge after GAM offer failure
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +1 min
The logo of GAM investment management company is seen at its headquarters in Zurich, Switzerland July 29, 2019. The British company said it had secured backing from shareholders representing a total of 53,250,357 GAM Shares, corresponding to 33.45% of total stock subject to its offer. "Liontrust made a full and fair offer for GAM, which reflected the financial reality of the business and would have provided a certain and sustainable solution," John Ions, Liontrust CEO said in a statement. "We are disappointed we did not win the support of the majority of GAM's shareholders and are grateful to those GAM and Liontrust shareholders who did back our offer," he said. Separately on Thursday, GAM said it had begun "constructive and productive" refinancing discussions with representatives of the investor group Newgame.
Persons: Arnd, Liontrust, John, Sinead Cruise, Lawrence White Organizations: REUTERS, Liontrust, Management, GAM, AG, Thomson Locations: Zurich, Switzerland, Swiss, British
☆ Xavier Niel’s GAM raid looks less quixotic
  + stars: | 2023-07-18 | by ( ) www.reuters.com   time to read: +2 min
NewGAMe, whose backers include telecoms mogul Xavier Niel and Swiss wealth manager Bruellan, launched a tender offer for just under 18% of GAM’s shares. Liontrust’s offer looked like the least bad option for GAM, which is losing money as its assets have more than halved since 2018 to 68 billion Swiss francs. And at least one other investor, with 6.5%, has said it won’t accept Liontrust’s offer. That means Liontrust will probably struggle to get to the two-thirds vote it would need to take over GAM. But GAM also has over 2 billion Swiss francs of tax losses to carry forward, lowering any future tax burden.
Persons: Xavier Niel, Bruellan, NewGAMe, Neil Unmack, Aimee Donnellan, Oliver Taslic Organizations: Reuters, GAM, Liontrust Asset Management, Twitter, Commonwealth Games, Cathay, Thomson Locations: Swiss
☆ GAM’s takeover rebels have a weak hand
  + stars: | 2023-05-16 | by ( ) www.reuters.com   time to read: +2 min
The billionaire has a good track record in activism, having agitated to block a rights issue at Unibail-Rodamco-Westfield (URW.PA). But getting a better deal at GAM looks hard. NewGAMe, backed by Niel, and its partner Bruellan are right that the Liontrust offer is far from appealing. The agitators hope to exceed a 10% stake, enough perhaps to stop Liontrust from taking full ownership of GAM. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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