Voya Asia Pacific High Dividend Equity Income Fund T.IAE

Primary Symbol: IAE

Voya Asia Pacific High Dividend Equity Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of dividend yielding equity securities of Asia Pacific companies. The Fund will seek to achieve its investment objective by investing at least 80% of its managed assets in dividend producing equity securities of, or derivatives having economic characteristics similar to the equity securities of Asia Pacific Companies that are listed and traded principally on Asia Pacific exchanges. The Fund will invest in approximately 60-120 equity securities and will select securities through a bottom-up process that is based upon quantitative screening and fundamental analysis. Voya Investments, LLC is an investment adviser of the Fund.

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Voya Asia Pacific High Dividend Equity Income Fund > Cavendish asset management says reject deal!

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Post by ERTguyon Feb 06, 2017 9:13am

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Post# 25803517

Cavendish asset management says reject deal!

Cavendish Asset Management urges Ithaca shareholders to reject Delek deal

LONDON (Reuters) - Ithaca (IAE.TO) investor Cavendish Asset Management said it "strongly urges" shareholders in the North Sea oil producer to reject a $524 million offer from Delek Group (DLEKG.TA) to buy 80 percent of Ithaca's equity it does not already own.

"I anticipate lots of potential deals in the future...This acquisition would be relatively cheap, and Delek Group will see good payback in a short space of time," said Paul Mumford, fund manager at Cavendish Asset Management, which has over 13 million shares in Ithaca, or about a 3 percent stake.

Delek on Monday offered to pay a 12 percent premium over Ithaca's Friday closing price, implying an enterprise value of $1.24 billion.

(The story was refiled to add dropped words Delek Group in paragraph 1)

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