01-05-2025
- Business
- Wall Street Journal
Shares in Australia's Platinum Surge on Merger Talks
SYDNEY–Shares in Australia's Platinum Investment Management surged after the fund manager entered merger talks with privately owned L1 Capital.
The stock rose as much as 16% Thursday after Platinum said it was speaking with shareholders of Melbourne-based L1 over a merger that would create a business with funds under management of about 18 billion Australian dollars, or $11.5 billion.
