Searchlight Capital to buy UK's Gresham House for about $615 mln (updated)
17/07/2023 07:21
(Adds details on the deal in paragraph 2,3)
July 17 (Reuters) - U.S.-based investment firm
Searchlight Capital Partners on Monday said it will buy British
alternative asset manager Gresham House GHE.L for 469.8
million pounds ($614.87 million).
Under the terms of the deal, Gresham's shareholders will
receive 1,105 pence in cash for each share held, which
represents a premium of 62.5% to the stock's last closing price.
Gresham House directors intend to recommend that
shareholders vote in favour of the deal, Searchlight said in a
statement.
($1 = 0.7641 pounds)
(Reporting by Eva Mathews in Bengaluru; Editing by Nivedita
Bhattacharjee)
((Eva.Mathews@thomsonreuters.com;))