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LONDON (Alliance News) - RIT Capital Partners PLC, the investment trust chaired by Jacob Rothschild, has approached rival Alliance Trust PLC about a possible merger, the Financial Times reported.
RIT made an informal approach to Alliance Trust in recent weeks and remains interested in a combination of the two groups, the paper said, citing people briefed on the matter.
A merger would create an investment trust with a market value of around GBP5 billion and would end years of strife for Alliance Trust, which has been beset in recent years by activist investors calling for change.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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