Concluding weeks of negotiations, Wilson Asset Management has acquired the PM Capital Asian Opportunities Trust, although it required increasing its bid.
The acquisition of PM Capital Asian Opportunities trust by PM Capital Global Opportunities has not been carried after failing to secure the necessary majority.
The findings of a breach in the Corporations Act in the bid to acquire the PM Capital Asian Opportunities fund are a “slap in the face”, according to rival bidder Wilson Asset Management.
The battle between PM Capital and Wilson Asset Management over the PM Capital Asian Opportunities fund has taken another turn after the Australian Government Takeover Panel declared it found a breach in the Corporations Act.