(December 4 – 10:15 ET) – Amvescap PLC is announcing that its offer for Perpetual PLC has become unconditional as it has received enough stock to take over the firm.

Amvescap says that 90.7% of Perpetual shareholders have tendered their shares to the deal, including the 41.9% sold by Perpetual founder Martyn Arbib. The firm says that of those who’ve taken the deal, 43% have opted for the Loan Note Alternative. The offer remains open to those who haven’t yet tendered their shares.

With shareholder approval in place, Amvescap says, the regulatory are being sought, but are still outstanding, from the U.K.’s Investment Management Regulatory Organisation, the Department of Trade and Industry and the Personal Investment Authority. The firm says it, “is confident that these conditions and approvals will be met”.
-IE Staff