LionTrust Asset Management says offer for Swiss rival GAM 'full and final'

Liontrust Asset Management said that its its proposed offer for Swiss rival GAM was "full and final".

The UK asset manager that its offer "good and fair", taking into account the current financial run rate of losses, future contractual liabilities and the restructuring costs needed to bring GAM back into the black.

"It is imperative that the future of GAM is resolved as quickly as possible to provide immediate financial and corporate stability for GAM to preserve value for shareholders and give certainty to clients," Liontrust said.

"There is no other offer for the entire issued share capital of GAM and the proposed acquisition provides a corporate resolution without further uncertainty and instability."