- Washington H Soul Pattinson & Company (SOL) and Milton Corporation (MLT) officially complete their merger
- The scheme of arrangement came into effect today, with Milton shareholders receiving 0.1863 SOL shares for every 1 MLT share they held
- The two businesses announce they’d join forces in June, arguing a combined entity would be a leading investment company
- Now the merger is complete, Milton will apply to be delisted from the ASX, with its securities set to be removed this week
- Shares in Washington H Soul Pattinson ended Tuesday’s trading session up 1.17 per cent at $38.20 per share
Washington H Soul Pattinson & Company (SOL) and Milton Corporation (MLT) have officially completed their merger.
The scheme of arrangement between the two investment companies came into effect on Tuesday.
Under the original deal announced in June, Milton shareholders have been issued 0.1863 SOL shares for every 1 MLT share they held.
Around 121.4 million WHSP shares have been issued under the deal, with all of the securities set to begin trading by October 6.
The two financial stocks decided to join forces as they believe a combined entity would be a leading investment company, with a diverse range of assets.
These assets include private equity, international equities, credit opportunities, real assets and ASX listed investments and trusts.
Now the merger is complete, Milton will apply to be delisted from the ASX, with its securities set to be removed this week.
Washington H Soul Pattinson will continue trading as normal after the Milton business was folded into its own.
SOL shares have ended Tuesday’s trading session up 1.17 per cent at $38.20 per share, while Milton shares have been suspended from trade since September 21.