Wealth and asset manager TEAM has abandoned its hostile takeover attempt on Tavistock Investments, citing non-engagement with the latter’s board.
Tavistock, which has £1.1 billion in assets under management, and Jersey-based TEAM, have been locked in hostile negotiations since 23 March, when the latter put a direct offer to Tavistock’s shareholders, after being rebuffed by the Tavistock board in mid-March.
TEAM said in a statement yesterday (20 April) that it was abandoning the bid: “TE...
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