Generation Development Group (ASX:GDG) has moved to quell market speculation following a report in the Australian Financial Review regarding a potential takeover of Ironbark Asset Management.
In a statement released to the ASX, GDG explicitly confirmed it is not currently in discussions to acquire the firm, emphasising its "disciplined approach" to M&A.
While a full acquisition is off the table for now, the relationship between the two entities remains active through secondary channels.
GDG noted that Evidentia Group—a firm within its network—recently finalised a long-term alliance with Ironbark.
The company clarified that any ongoing dialogue is strictly related to this alliance and "ordinary course" strategic matters.
At the time of reporting, Generation Development Group's share price was $4.18.