UK - Hermes Pensions Management is still considering its position regarding its takeover bid for Edinburgh Fund Managers.
Hermes increased its holding in the Scottish firm to 29.3% late last year. News of Hermes’ interest has pushed up EFM’s share price from a low of £3.45 last October to £5.35 last week.
Hermes chief executive Tony Watson has been reported as denying that Hermes had done anything untoward in making an approach, and that EFM had not been kept in the dark about a possible takeover.
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