Waterfall Asset Management has made a formal offer for the Alternative Credit Investments (ACI) investment trust, formerly known as Pollen Street Secured Lending.
The bid values the specialist secured lending trust at £639m, or £8.70 a share, and has been made via Waterfall EIT UK, a newly formed subsidiary company of Waterfall Asset Management. Downing to launch renewables and infrastructure trust It follows months of talks between the asset manager and the investment trust, after Waterfall first announced its interest in February this year. The initial notices referred to a "possible offer" price of £9 per share, although this was not formalised. ACI's board of directors said they intended to recommend that shareholders accept the offer...
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