Henderson gains shareholder approval for New Star acquisition

A total of 99% of shareholders have approved Henderson's proposed acquisition of New Star at today's...

A total of 99% of shareholders have approved Henderson's proposed acquisition of New Star at today's general meeting. It came after Henderson priced down its proposed acquisition of New Star by £8m to £107m. In his opening address to the meeting, Henderson chairman Rupert Pennant-Rea said the group had found "some ambiguities" in the way the previous price adjustment mechanism would work, so a new purchase figure was agreed this morning with New Star's bank syndicate. The £107m takeover will be funded by £44m of Henderson cash, about £46m has come from the placing of Henderson Group s...