Dec 09, 2024 (The Australian Financial Review - ABIX via COMTEX) --
Shares in global equities manager Platinum Asset Management slumped by 14.4 per cent to a record low of $0.90 after it informed the sharemarket that hedge fund Regal Partners had abandoned its bid for Platinum. Regal Partners had made an initial approach to Platinum that had valued it at $160 million but had been rejected by Platinum directors as too cheap, and there had been rumours that the Platinum board had been seeking to court other bidders. Platinum has been suffering from a period of client outflows and lacklustre performance, and E&P analyst Olivier Coulon told clients that Platinum's recent poor performance had probably reduced Regal's confidence that it could make its proposed deal work..
Publication Date: 10 December 2024
PLATINUM ASSET MANAGEMENT LIMITED - ASX PTM
REGAL PARTNERS LIMITED - ASX RPL
E&P FINANCIAL GROUP LIMITED - ASX EP1
COMTEX_460666538/2229/2024-12-09T19:24:09
By Joshua Peach
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