Liontrust buys UK's Majedie Asset Management for $160 million

LONDON - Liontrust Asset Management is to buy British fund manager Majedie Asset Management for up to 120 million pounds ($159.31 million), the company said on Tuesday.

The deal will see Liontrust issue up to 97.0 million pounds ($128.78 million) in new ordinary shares of 1 pence each and up to 23.0 million pounds ($30.53 million) in cash to the shareholders of Majedie.

($1 = 0.7532 pounds)