Platinum Asset Management rejects Regal Partners' $420 million takeover bid as undervalued.

Platinum Asset Management has declined Regal Partners' takeover bid of approximately $420 million, deeming it undervalued. Kerr Neilson, Platinum's largest shareholder with 21.5%, informed stakeholders that the proposal does not accurately represent the company's worth. Despite the rejection, Platinum is open to improved offers from Regal or other potential buyers in the future, emphasizing the need for terms that reflect its value and growth prospects.

September 26, 2024
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