Managed Accounts Holdings Limited (“Managed Accounts”) (ASX: MGP) is pleased to announce it has submitted a non-binding conditional proposal to undertake a merger with Linear Financial Holdings Pty Ltd (“Linear”) by acquiring 100% of the shares of Linear.
On completion of the merger, the combined entity will become a leader in the managed account, platform and non-unitised administrative sector in Australia, with funds under administration exceeding $11 billion.
Managed Accounts Executive Chairman Don Sharp said: “The proposed transaction represents the execution of the acquisition component of the company’s growth and development strategy as outlined in the most recent annual report and quarterly report”.
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