0245 GMT - Platinum Asset Management's continued outflows probably prompted Regal Partners to call off its proposed takeover, E&P analyst Olivier Coulon says. He tells clients in a note that Regal's ability to make a transaction value accretive rested on the level at which Platinum could stabilize its funds under management. He points out that Platinum's funds under management declined 10% in November. Regal hasn't explained why it is walking away, but Coulon suggests that Platinum's negative relative performance may have hit management's confidence in the potential benefits of combining the hedge-fund sponsors. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 08, 2024 21:45 ET (02:45 GMT)
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