Deadline approaches for AssetCo as Premier Miton withdraws from potential RMG acquisition

"Insufficient commercial merits"

clock • 1 min read
Mike O'Shea, chief executive of Premier Miton
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Mike O'Shea, chief executive of Premier Miton

Premier Miton Group has withdrawn from acquisition discussions with the board of River and Mercantile Group (RMG) and has confirmed that it will not be making any offer, meanwhile AssetCo has five days to make its intention clear.

The update comes after an initial statement in November 2021 confirming that Premier Miton Group had approached the RMG board to explore a potential acquisition of the entire issued and to be issued share capital.  Mike O'Shea, PMI's chief executive said: "We are most grateful to the Board of RMG for their co-operation and assistance as we have assessed the merits of a possible transaction, especially so given the major changes ongoing in their business. "We have concluded that there are insufficient commercial merits for our shareholders to make a formal proposal for the acquisition ...

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