Duel over Exmoor is first trust fight of 97

Article Abstract:

Panther Securities is seeking to acquire Exmoor Dual, a UK split capital trust from Exeter Fund Managers. Panther holds nearly 30% of Exmoor and has sought the backing of the trust's board. The board opposes the bid and argues that Panther aims to further its interests in the real estate industry. Exmoor shareholders should initially reject Panther's offer, although Exmoor has not performed well. Shareholders have been promised proposals for early liquidation of Exmoor by the board.

Real Estate, Real Estate and Rental and Leasing, Real estate industry, Panther Securities, Exmoor Dual

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Fists fly at Saracen

Article Abstract:

Saracen Value Trust stockholders are to vote on a bid by HSBC to manage the fund. They have to decide by Sep 16 1997, and the bid may be the best option for stockholders interested in continuing investment in small business. Saracen's board opposes a bid and may back proposals from JO Hambro or Invesco, arguing that HSBC is not offering a cash element. Stockholders seeking to leave the trust should support a later bid rather than the bid from HSBC.

Management, Saracen Value Trust

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Doubts over Perpetual merger

Article Abstract:

The impact of the acquisition of Perpetual by Amvescap is examined in detail.

AMVESCAP PLC, Perpetual Corp.

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