Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Woodford to bag £2m profit from comms firm buyout

Woodford to bag £2m profit from comms firm buyout

Star fund manager Neil Woodford could scoop £2 million from one of his investments as business communications company Daisy Group's chief executive Matthew Riley, backed by a consortium that includes Toscafund Asset Management, announced plans to launch a £500 million bid for the company.

Woodford bought a 4% stake in Daisy Group in May for one of his St James's Place mandated funds when its shares stood at 170p. He now stands to collect £2 million if the cash offer of 190p per share, is successful.

Alternative Investment Market-listed Daisy Group's boss Matthew Riley made an approach to buy the company on 27 July although the company said the approach was not a firm intention to make an offer. Daisy said it has convened an independent committee of the board to engage in preliminary discussions with the consortium.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter