Pacific Current Group (ASX:PAC) announced on 7 September 2026 an update on its strategic review, confirming it has declined a confidential, non-binding, conditional, and indicative proposal from unlisted firm Roc Partners. Pacific Current Group Limited is a multi-boutique asset management firm investing in seven boutique firms globally. It is dedicated to providing exceptional value to shareholders, investors, and partners. The May 2026 proposal was preliminary, conditional, and speculative, contemplating differential consideration among shareholders and largely funded from Pacific Current’s own cash assets.
Pacific Current promptly advised Roc Partners, and reiterated last week, that it would not progress the proposal. The company’s decision stemmed from the cash consideration being below its fair value assessment, particularly as it relied on Pacific Current’s own assets. Additionally, the proposed scrip rollover structure would have led to different economic outcomes for shareholders. Pacific Current invited Roc to submit revised proposals offering fair cash consideration to all shareholders; Roc has not yet submitted a revised proposal.
The strategic review continues, assessing the River Capital proposal detailed in its 27 August 2026 announcement. This involves a potential issue of Pacific Current shares for River Capital’s acquisition, valued at $13.00 per Pacific Current share. Pacific Current remains open to engaging with all bona fide expressions of interest that could optimise value for its shareholders; enquiries should be directed to its financial adviser, Flagstaff Partners.
A further update on the strategic review is expected by its annual general meeting on 12 November 2026. Pacific Current will keep the market informed of material developments, noting no certainty that any transaction will eventuate.
