GPG closing in on MMC
Guinness Peat Group (GPG) has succeeded in substantially increasing its holding in diversified publicly listed financial services house, MMC Contrarian (MMC).
With the GPG bid due to end at the close of business today, the company announced at the close of trading on the Australian Securities Exchange yesterday that it had increased its shareholding in MMC to 39.35 per cent as part of its unconditional on market cash takeover bid.
The board of MMC, which has declared its intention to move further into the financial planning space, has urged shareholders to resist the GPG takeover bid.
AUTHOR
Mike Taylor
Recommended for you
AFCA has revealed to Money Management the number of Dixon Advisory complaints it has closed so far out of the more than 2,700 total complaints received.
The Financial Advice Association Australia is launching a new brand awareness campaign that includes promoting the advice profession as an attractive option for career changers.
Half of financial advisers and wealth managers in Asia-Pacific plan to increase their clients’ exposure to private equity and multiprivate asset solutions, according to a survey by Schroders.
The former Iress chief executive has joined an NSW advice firm, Profile Financial Services, as an independent non-executive director.
