Platinum Asset Management receives takeover proposal from Regal Partners Limited

Platinum Asset Management Limited (ASX:PTM) has received a non-binding, indicative proposal from Regal Partners Limited to acquire all of its shares via a scheme of arrangement. The proposal involves Platinum shareholders receiving 0.274 Regal shares for each Platinum share held, along with a fully franked special dividend of $0.24 per Platinum share from Platinum's cash reserves.

Platinum Asset Management's response to the non-binding takeover proposal

The Platinum Board is currently evaluating the non-binding proposal from Regal Partners Limited. The Board is considering the proposal's merits in the context of Platinum's inherent value, turnaround strategy, outlook, and planned future growth initiatives. It will also assess the absolute and relative value of the proposed Regal share consideration, potential business costs and benefits of any combination, as well as Platinum's capital management plans and alternative strategic options. The company has confirmed that the proposal should not impact its unitholders, and its investment philosophy and process remain unchanged.

Summary of Platinum Asset Management's non-binding takeover proposal

Platinum Asset Management Limited (ASX:PTM) has received a non-binding, indicative proposal from Regal Partners Limited to acquire all of its shares via a scheme of arrangement. The proposal includes Platinum shareholders receiving 0.274 Regal shares for each Platinum share held, along with a fully franked special dividend of $0.24 per Platinum share from Platinum's cash reserves. The Platinum Board is currently evaluating the proposal, taking into account the company's inherent value, turnaround strategy, outlook, and planned future growth initiatives. Shareholders are advised not to take any action in connection with the proposal at this stage, and the Platinum Board will provide updates as required under its continuous disclosure obligations.