Announced
Financials
Tags
United Kingdom
Acquisition
Private Equity
Friendly
Venture Capital
investment management
investment company
Majority
Single Bidder
Domestic
Private
Pending
Investment Banking
Synopsis
Henderson Diversified Income Trust, a United Kingdom-based investment company investment objective is to provide shareholders with a high level of income and preservation capital, through the economic cycle, agreed to acquire Henderson High Income Trust, a United Kingdom-based investment trust whose investment objective is to invest in a diversified selection of both well-known and smaller companies to provide investors with a high dividend income stream while also maintaining the prospect of capital growth. Financial terms were not disclosed. "Importantly, shareholders will be offered a choice - a full cash exit at close to liquidation value, rollover into HHI, or a combination of both. Those shareholders who roll will maintain a similar income profile, managed by the same investment group, but with the advantage of greater scale and liquidity. Whilst the rollover option represents a change of asset allocation to a majority equity mandate, the fixed income team of HDIV will continue to manage the smaller bond allocation of HHI, providing some continuity for shareholders. HHI's record, if it continues in the future, of capital growth, a high and growing dividend and trading at a tighter discount to NAV should also benefit shareholders," Angus Macpherson, HDIV Chairman.
Search a database of more than 250,000 verified dealmakers
Receive automated updates on global transactions
Follow the activity, relationships and transactions of top dealmakers
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.