Platinum Asset Management
ASX:PTM
The prominent fund manager has launched a scathing attack on rival L1 after Wilson Asset Management lost a vote to control the board of one of Platinum's listed investment companies.
Analysts have accused the fund manager and its advisors of mishandling deal talks after a potential acquirer walked away. Now it must stop the bleeding — or face a fire sale.
Phil King's Regal is still being viewed as the most logical acquirer of 'basketcase' fund manager Platinum, despite a formal rejection of its offer, and the interest of rivals.
The future of fund manager Platinum is the most talked about situation on the ASX right now, involving some of its biggest personalities. But if they want the prize, they'd better act soon.
Challenger Group has also been linked with Platinum after Phil King's Regal Partners put the embattled global fund manager firmly in play.
Many of the most successful investment firms are led by two dominant figures. What happens when a partnership collapses?
