Liontrust to pay £51.4m less for Majedie as deal set to complete

Issue of new shares

Kathleen Gallagher
clock • 1 min read

Liontrust Asset Management will pay £51.4m less than the maximum price proposed for the purchase of Majedie Asset Management as the former's share price has fallen since the announcement, a stock exchange announcement has revealed.

At the time of the deal's announcement, the companies said the deal would be worth up to £120m, satisfied by the issue of up to £97m in new ordinary shares and up to £23m in cash to the shareholders of Majedie. On Tuesday (29 March), Liontrust said it would issue 3.7m new shares of 1p each to shareholders of Majedie. With Liontrust's share price now at £12.3 per share, the value paid to Majedie is £45.6m, the firm confirmed, £51.4m less than the £97m originally proposed.  The drop in value is a result of Liontrust's share price tumbling over recent months. It is down 41.3% over the pa...

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