Old Mutual offer for Joffe’s Long4Life could disappoint long-term investors
Old Mutual offer for Joffe’s Long4Life may disappoint long-term investors
03 December 2021 - 08:25
UPDATED 05 December 2021 - 23:01
A R3.7bn bid by Old Mutual’s private equity arm for Long4Life, the investment company founded by entrepreneur Brian Joffe, may have left long-term holders of the stock unimpressed.
The unsolicited proposed offer of R5.80 a share is about 16% higher than the R5 it was trading at four years ago, and the premium might not be enough for those who bought and held the stock since then...
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