Commenting on the takeover news for RPC, Craig Yeaman, senior fund manager at Royal London Asset Management, said:
“We are very surprised and somewhat disappointed that the Board have recommended the offer at this price as we believe this materially underestimates the future prospects of the Group.
“While it is unlikely another bidder will emerge, it should not be discounted out of hand given the low valuation of the agreed bid.”
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About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £117 billion of assets and employs 89 investment professionals. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued February 2019 by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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