Mainstream to pursue Apex acquisition offer


Following a “superior proposal” to what was offered by SS&C, fund administrator Mainstream Group Holdings will pursue discussions with Apex Group Limited after reaching the deadline for SS&C to exercise matching rights.
Apex offered the acquisition of 100% of shares by way of scheme of arrangement for $2.80 per share.
As part of the terms, SS&C had until 5pm on 17 June, 2021, to match or offer more favourable terms.
However, Mainstream was still bound to the SS&C share implementation deed (SID) and the Mainstream board had not changed its recommendation that shareholders vote in favour of the SS&C scheme in absence of a “superior proposal”.
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.