GAM cancels EGM after investors withdraw proposals

Gam Holding AG

14/08/2023 05:58

ZURICH, Aug 14 (Reuters) - GAM Holding's  GAMH.S  board
of directors has decided to cancel an extraordinary general
meeting scheduled for Aug. 18, the Swiss asset management firm
said on Monday, after the investor group that requested the
meeting withdrew their proposals.
    "Given Rock's request to withdraw the Rock Proposals, the
Board has decided to cancel the EGM," GAM said in a statement,
referring to an investor that was part of a group, led by French
billionaire Xavier Niel, seeking an alternative to a takeover
offer by British rival Liontrust  LIO.LO .
    The investors had previously called for the EGM to be
delayed until after the offer period runs out on Aug. 23.

 (Reporting by Brenna Hughes Neghaiwi
Editing by Miranda Murray)
 ((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;))