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    Asset manager R&M’s (RIV) stock soars on Premier Miton interest

    By David Burrows

    10:50, 23 November 2021

    View of the City of London and the Thames
    The City of London-based River and Mercantile (R&M) management consultancy has been approached by Premier Miton with a potential offer – Photo: Alamy

    The stock price of UK boutique asset manager River and Mercantile (R&M) jumped by over 12% to 320p in late-morning trading following news of a potential acquisition by asset managers Premier Miton Group (PMI). 

    Premier Miton has approached the board of rival asset manager R&M over a possible deal. Any successful acquisition would be conditional on the completion of the proposed sale of R&M’s solutions business to Schroders and the subsequent distribution of the net cash proceeds to its shareholders.

    Premier Miton believes the scale and synergy benefits arising from acquiring R&M represents good value for both sets of shareholders.

    Previous merger

    Premier and Miton were initially separate businesses before merging in 2019. The combined company has been been pondering a takeover of R&M for a period of time, and believes the combination would help it deliver a strong and balanced business across a diversified product offering.

    NVDA

    481.95 Price
    +0.070% 1D Chg, %
    Long position overnight fee -0.0262%
    Short position overnight fee 0.0040%
    Overnight fee time 22:00 (UTC)
    Spread 0.25

    TSLA

    236.12 Price
    +0.130% 1D Chg, %
    Long position overnight fee -0.0262%
    Short position overnight fee 0.0040%
    Overnight fee time 22:00 (UTC)
    Spread 0.19

    AMC

    6.86 Price
    +0.300% 1D Chg, %
    Long position overnight fee -0.0262%
    Short position overnight fee 0.0040%
    Overnight fee time 22:00 (UTC)
    Spread 0.08

    COIN

    121.03 Price
    +0.930% 1D Chg, %
    Long position overnight fee -0.0262%
    Short position overnight fee 0.0040%
    Overnight fee time 22:00 (UTC)
    Spread 0.24

    This announcement does not amount to a firm intention to make an offer and there is no guarantee that any transaction will ultimately follow.

    Premier Miton said it looked forward to continuing its positive engagement with the R&M board.

    Read more: Private equity group bids for Aareal Bank

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    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
    You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
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    CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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