Saracen expects offer for Value Trust

Saracen expects offer for Value Trust

Saracen Value Trust says it has held meetings with interested parties which could lead to an offer for the trust. MAM and Invesco are understood to be candidates, and Saracen expects to make an announcement within the next 10 days. The Trust said HSBC Asset Management Europe has written a further letter to the board but has not submitted new and improved proposals. HSBC proposed two weeks ago to remove the board of Saracen and the investment manager and to take over management of the trust.

Comments