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COG pulls Diverger offer after lack of shareholder support

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15 November 2023 by Simon Hoyle, Professional Planner

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Conceding there is a lack of interest from key Diverger shareholders, COG has formally withdrawn its counteroffer for the listed licensee.

After the Count takeover was announced in September, Diverger was punted squarely into play by the emergence of the second takeover offer, albeit non-binding and conditional.

Count has already acquired the risk-orientated Affinia licensee from TAL, and the addition of Diverger to the fold would lift group adviser numbers to more than 770, based on data provided to Professional Planner by Adviser Ratings and current as of 19 October. A combined Count/Diverger group would rank (also based on Adviser Rating numbers) as the third-largest licensee group, behind only Insignia with 955 advisers and AMP with 872.


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