Milton and WHSP agree on merger terms

WHSP/

22 June 2021
| By Chris Dastoor |
image
image
expand image

Milton has entered into a scheme implementation agreement (SIA) with Washington H Soul Pattinson and Company (WHSP), which will see WHSP take 100% ownership of Milton.

It would enter into a scheme of arrangement that would see WHSP acquire 100% of the share capital in Milton it did not already own.

Milton’s investment team and management would be retained in the combined entity, with both expected to complement the existing capabilities of WHSP.

Milton’s existing portfolio would transform from predominately being domestic equities and become more diversified, gaining exposure to private equity, international equities, credit, and real assets.

The proposal implied a value of $6 per Milton share, which was a 20% premium of the previous closing price of $5 a share.

Milton recommended that shareholders vote in favour “in absence of a superior proposal” and subject to the independent expert concluding the scheme was in the best interest of shareholders.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND