This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. This material should be considered as general market commentary.
Just before Christmas, there was a light-hearted conversation on the Kepler internal chat system about who might put out an important announcement just as the market was closing for the festive period. It's an ironclad rule that someone will. Sure enough, Octopus Renewables Infrastructure's (ORIT) board announced that it had proposed a combination of ORIT and peer-group member Aquila European Renewables (AERI).
This got us thinking about what the ideal circumstances for a merger between two investment trusts might be. There is a lot of M&A going on in the trust sector right now. What are the factors that could make for an ideal combination? And are ORIT and AERI a match made in heaven?
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