London-Based AVI Criticises Third Point's Proposed Merger and Urges Shareholders to Vote Against it

In the recent turn of events, Asset Value Investors (AVI), the prominent manager of the £1.3bn AVI Global Trust (AGT), has expressed significant concerns over the news of the merger that’s on the horizon between Third Point Investors Ltd. and Malibu Life Reinsurance Ltd. The merger, proposed by London-listed investment firm, has sparked debates across the financial scene. AVI, which holds a substantial 7.1% stake in Third Point Investors on behalf of AVG, made it known that it has always been actively involved with the board concerning the investment company’s strategy and future since 2017.

The proposed merger has AVI predicting a gloomy future for Third Point’s stakeholders considering that Third Point Reinsurance has only shown a lukewarm performance since its inception in 2013, with less than 4% annualized shareholder total return.

They rounded up their statement by urging the other shareholders to cast their votes against the proposed merger. AVI views this merger as an infringement on the shareholders’ rights and is calling for their right to choose whether to continue with the future changed company.