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Henderson European trusts improve merger terms after unsolicited third-party bid
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investmentweek.co.ukIn a stock exchange notice on Tuesday evening (14 May), HNE said it had re-engaged with HEFT and its manager, Janus Henderson Investors, after considering the alternative proposal to «optimise outcomes» for shareholders. One major improvement was an increase in the cash exit offered to HNE shareholders from the original 5% of issued share capital to 15% for each trust. Other revisions included a further reduction to the new management fee, with the second tier slightly reduced from the initially proposed 50bps to 47.5bps, and a further discount control mechanism in addition to the 2...
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