Manager of the Finsbury Growth & Income trust Nick Train has said "we are in a price-finding phase" to establish the worth of Hargreaves Lansdown, after the firm agreed to a £5.4bn takeover offer in August.
Hargreaves Lansdown is currently the seventh largest holding in F&G's portfolio, and has held a high ranking position in the portfolio for several years. Train praised the company's founders Peter Hargreaves and Stephen Lansdown for turning HL into a "business worth over £5bn", in the trust's latest monthly update. The manager commented on the "significance, both symbolically and on a practical level (given the size of their combined holding), both of the founders have given their support to the proposal". He said "if no third party intervenes with a higher offer or no investor is ...
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