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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.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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