Magellan Financial Group will pay the full costs of implementing the restructure and compensate the Magellan Global Fund for the partnership benefits being offered under the entitlement offer and upon exercise of any options. Magellan Financial Group intends to fund the cost of the restructure and any partnership benefits from existing financial resources (including an undrawn corporate debt facility).
… entitlement offer structure and bonus option issue to subscribe for new closed class units at a 7.5% discount to the prevailing net asset value should be attractive to unitholders in the combined trust. Importantly the cost of the benefits under the entitlement offer and bonus option issue will be borne by Magellan Financial Group …
MFG Price at posting:
$61.11 Sentiment: Sell Disclosure: Not Held
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