GAM Enters Talks With Billionaire Niel as Liontrust Offer Fails
- Liontrust offer gets backing from a third of GAM shareholders
- NewGAMe grouping said Liontrust bid undervalued the firm
Xavier Niel
Photographer: Marlene Awaad/BloombergThis article is for subscribers only.
GAM Holding AG has entered into discussions with French billionaire Xavier Niel’s NewGAMe SA and the Bruellan investor group, after Liontrust Asset Management Plc’s bid failed to gather enough votes.
The talks are focused on agreeing short-term bridge financing and NewGAMe is starting “immediate discussions with GAM’s portfolio management teams” to better understand the business, according to a statement from GAM.