UK Mortgages defends decision to reject M&G offer

Trust board rebuffed 70p/share offer Rob Ford of TwentyFour Asset Management UK Mortgages (UKML) had extensive conversations with investors before rejecting a takeover approach from M&G Investment Management, according to manager Rob Ford.

M&G criticised the UKML board for rebuffing an offer of 70p per share made on behalf of the M&G Specialty Finance fund, claiming it did not allow shareholders "sufficient time to evaluate the offer"...