NewGAMe Seeks Swiss Takeover Board Support: The wrangling over the Swiss fund company GAM continues. The investor alliance NewGAMe is asking a Swiss federal authority for help. NewGAMe GAM
The investor group NewGAMe, to which Bruellan also belongs, has asked the Swiss Takeover Board to intervene. It wants to prevent Swiss fund house GAM from spreading misleading information about NewGAMe's offer, according to a media release on Tuesday.Liontrust announced a three-day extension of the offer for all GAM shares at the beginning of the week, and GAM's board of directors subsequently solicited renewed support for the British asset manager's offer.
The alliance believes the TOB must intervene to ensure a fair and undistorted decision-making process for shareholders. At the same time, it underlines its commitment to the continued existence of GAM.The group reiterated the merits of its offer, urging shareholders to resist GAM's tactics and evaluate their options with a cool head.
NewGAMe is convinced it's in the shareholders' best interest not to accept Liontrust's offer and to remain invested in GAM. With a new team on board, the company can be successfully turned around and returned to profitability and growth, he said.
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