Henderson, Gartmore In Talks On Possible Deal - Source
17 Décembre 2010 - 7:39PM
Dow Jones News
Henderson Group PLC (HGI.LN) is in talks with Gartmore Group
Ltd. (GRT.LN) about acquiring the company after the struggling fund
manager effectively put itself up for sale last month, a person
familiar with the situation told Dow Jones Newswires on Friday.
The talks are detailed but are unlikely to result in a deal
before Christmas, the person added.
Henderson has been tipped as a possible buyer for Gartmore,
which saw its shares plummet following the high-profile departure
of two of its star managers, most recently Roger Guy, the company's
top fund manager who left the firm at the beginning of November. At
the same time, Gartmore said it had hired Goldman Sachs (GS) to
find a buyer for the company.
Henderson has acquired a number of asset managers over the past
few years to diversify and strengthen its product offerings. Some
18 months ago, it bought New Star Asset Management, giving it a
sizeable chunk of U.K. retail funds, while earlier this year it
bought U.S. fixed-income fund manager RidgeWorth Capital Management
Inc. from SunTrust Banks Inc. (STI).
Gartmore would be an "opportunistic" buy for Henderson, the
person said, complementing existing businesses and boosting
exposure in emerging markets.
Gartmore shares went as high as 126 pence before closing at 105
pence, up 6%. Henderson closed unchanged at 131 pence.
-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241;
marietta.cauchi@dowjones.com
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