Premier Asset Management and Miton Group have agreed the terms of an all-share merger, which is expected to complete in Q4 and will see Miton shareholders own 33% of the combined group.
The merger, which is expected to be conducted through a court-sanctioned scheme of arrangement between Miton and its shareholders, values each Miton share at 56.74p, meaning Miton shareholders will own a third of the combined group following completion. The combined asset manager, which will be renamed Premier Miton Group, will continue to trade on AIM. It is expected to have combined assets under management of £11.5bn, which the groups believe positions the business well for future growth. Premier Miton Group's combined board will be drawn from both companies with Premier chairman Mi...
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