The board of European Assets trust (EAT) has reached agreement on heads of terms for the combination with the European Smaller Companies trust (ESCT).
The move comes against the backdrop of EAT's "longer term underperformance", which has been acknowledged by its board, with its members "considering all opportunities to deliver improved performance for shareholders" including the move to combine the strategy's assets with ESCT. According to a stock exchange notice today (23 June), this will take place through a scheme of reconstruction of EAT under which the trust's shareholders can choose either to receive new shares in ESCT or cash. ESCT unveils asset allocation results of tender offer However, the amount of cash will be li...
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