Short seller VGI Partners (ASX: VGI) today confirmed it is looking to merge with specialist investment manager Regal Funds Management (RFM) in a move that would create a firm with more than $6 billion in funds under management (FUM).
Announced today, in conjunction with the resignation of Jonathan Howie as CEO of VGI, the proposed merger would see the ASX-listed company acquire 100 per cent of RFM in consideration for new ordinary shares in VGI issued to Regal shareholders.
Confirmation of the deal comes after media speculation earlier this month, which forced VGI to let shareholders know it was in discussions with Regal about a possible merger.
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