Fat Prophets Global Property Fund (AU:FPP) has released an update.
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Fat Prophets Global Property Fund has received an unsolicited and non-binding merger proposal from Lanyon Asset Management, a major unitholder. The investment manager of FPP deems the offer as unfair and unreasonable for its unitholders due to a lack of value and misaligned investment strategies. The proposal follows previous attempts by Lanyon to influence FPP’s management decisions, which were not accepted by investors.
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