Very happy to see the announcement from CHO and MLT today re the tie-up between the two LICs. In fact I asked whether this would one day happen at the most recent MLT AGM and the chairman's answer was a clear 'no'.
A merger would mean a lower MER for all shareholders, and therefore higher returns. Also with CHO shares being exchanged for MLT shares, this should narrow the SP:NTA gap for CHO. End-of-July figures are 7.8% discount to NTA for CHO, and 4.7% discount for MLT.
What are your thoughts?
cho/mlt merger
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