VGI Partners (ASX:VGI)
and Regal Funds Management have agreed to extend the period of exclusivity regarding the proposed merger to March 28.
This comes after VGI announced its proposal to acquire 100 per cent of shares in Regal on January 31. The global equity manager has confirmed that due diligence and negotiations for a binding merger, which will be subject to final board approvals, remains ongoing.
VGI Partners said shareholders do not need to take any action in relation to the proposed merger at this stage.
Shares in VGI Partners (ASX:VGI)
are trading 1.8 per cent lower at $4.02.