Treasury Group (TRG) is set to take a tilt at Wilson HTM Investment Group Ltd, contacting several of the group's shareholders over the weekend to discuss their stakes, The Australian Financial Review reports.
Sources told the newspaper reports Treasury is believed to be working alongside former Wilson boss Andrew Coppin to put the company "in play".
Treasury chief executive officer Andrew McGill reportedly offered Wilson shareholders 42 cents per share (a five per cent premium to Friday's closing price) over the weekend, if they sign a share sale agreement and binding call option deed
The AFR reports Treasury is eyeing Wilson's $12.3 billion in funds under management, while Mr Coppin is interested in the group's broking unit. Mr Coppin left Wilson in July to pursue a buy-out, and amid allegations of misconduct against him.