Alliance Trust: enter Rothschild
Help may be at hand for Alliance Trust – the beleaguered Dundee-based fund manager that made headlines last year when its chief executive, Katherine Garrett-Cox, was dramatically ousted following a long-running shareholder dispute, said Kate Palmer in The Daily Telegraph. Jacob Rothschild’s RIT Capital Partners has confirmed that it is in talks to acquire the outfit – although it has yet to make a formal offer. The combined company would be worth around £5bn. One of the UK’s “oldest and largest investment trusts”, Alliance has had a turbulent time lately, owing to repeated attacks from activist investors lambasting its “lacklustre performance and corporate governance record”, said Chris Newlands and Arash Massoudi in the FT. Investors broadly welcomed Lord Rothschild’s interest, though some noted that RIT’s own performance…
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The Week United Kingdom (Digital) - 1 Issue, V. 1076