London—A cross-border team from Dentons is advising London-listed fund management group, Liontrust Asset Management PLC, on its proposed £96 million takeover of the Swiss listed investment management group, GAM Holding, announced on 4 May 2023, with offer documentation published on 13 June 2023.

The deal, which is conditional on, inter alia, regulatory approvals, Liontrust shareholder approval as a class 1 transaction, and acceptance of the offer by 66.7% of GAM shareholders, is structured as a share-for-share exchange offer, which would result in GAM shareholders owning about 12.6 per cent of the combined group at completion, expected in the fourth quarter this year.

David Boyle, Head of Corporate Development at Liontrust, said: “This is a significant acquisition that accelerates the growth of Liontrust across all seven of our strategic objectives. We are very grateful to Dentons for their support on this complex transaction - to date, and through the very important next steps as we push the offer through to a successful conclusion.”

Guy Norfolk, Liontrust's client relationship partner at Dentons, said: "We are delighted to be assisting Liontrust with this important deal, working with our colleagues across the globe. We look forward to helping our client complete the transaction over the coming months and to the successful future of the combined businesses."

The Dentons team advising Liontrust is led by Corporate partners Guy Norfolk and Claire Armstrong, together with Corporate partner Michael Snook, Corporate senior associate Sarah Wylie and a wider team of corporate, capital markets and asset management associates. The team also includes Cameron Half, on US securities aspects, Lorna McCaa and Guy Vouha on share schemes work, and Catherine Astruc and Rod Cameron on financing. MLL Law in Zurich are leading on Swiss law aspects.

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