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Petershill Partners proposes $100m tender offer at 15% premium
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In a stock exchange notice today (23 April), the £3.8bn trust said the offer would be made for up to 37.9 million shares, or 3.4% of issued share capital, at 214p per share. This represents a premium of 15% to the closing price of 186p on Monday (22 April). The move offers an exit route for shareholders, as the FTSE 250 trust contends with a double-digit discount to net asset value. According to the Association of Investment Companies, Petershill Partners is trading at a 45.9% discount. Pershing Square Holdings manager slashes performance fee as Ackman eyes US launch The tender off...
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