Henderson Group Plc. (HGG.L) announced that it has completed acquisition of recommended cash offer for New Star Asset Management Group PLC. Settlement of consideration under the offer will take place on or before April 16, 2009.
Under terms, the consideration due to the New Star Preference Shareholders has been settled on April 9, including £45.5 million cash and the issue of about 25.77 million New Ordinary Shares.
Pursuant to the terms, the company expects to pay up to £2.9 million cash and up to 1.65 million New Ordinary Shares are expected to issue to certain directors and employees within the New Star Group after 30 September 2009.
The terms of the proposed acquisition imply an enterprise value for New Star of £107 million.
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