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Bids, Mergers and Takeovers

HHI and UKT to merge

17 March 2017 09:13

Threadneedle UK Select Trust (UKT) has confirmed that it intends to merge with Henderson High Income Trust.

UKT said that the board had concluded that the company was not able to continue in its current form and undertook a review of potential merger candidates.

It said that following a beauty parade process with a shortlist of suitable candidates the board decided to recommend a merger with Henderson High Income Trust.

HHI said its board believed the proposals had a number of benefits for its existing shareholders, including:

- increasing the size of HHI's asset base, spreading the company's fixed costs over a larger capital base which should reduce the total expense ratio;

- improving the liquidity of the HHI shares on the secondary market to the benefit of all shareholders - introducing a wider range of investors to the company At 9:13am: (LON:UKT) UK Select Trust Ltd share price was +10p at 210p

Story provided by StockMarketWire.com

Related Company: HHI

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