Chanticleer

Investors the winners in Soul Patts’ $4b transformation

The marriage of two of the country’s oldest investment houses should lead to a step change in investment strategy and provide retail investors with access to assets available only to institutions.

Jun 23, 2021 – 12.00am

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There are three things to like about Washington H. Soul Pattinson’s $4 billion takeover of one of the country’s top three listed investment companies, Milton Corporation.

First, Todd Barlow, who is chief executive of Soul Patts, has opted to be fair to all shareholders by offering them a premium to net tangible assets. Normally LICs change hands around NTA.

Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist.