The City was apparently gossiping today about the possibility that an American bank might bid for Man Group, the world's largest publicly-traded hedge fund after it acquired the hedge fund GLG.
The London Evening Standard writes: Gossips named the potential suitor as either JPMorgan or Bank of America, and put a price tag of between 350p and £4-a-share on Man Group. They added that the suitor was rumoured to have [felt out] one of Man's biggest shareholders.
Man's top 10 shareholders are:
-- BlackRock
-- AXA
-- Collins Stewart
-- Point Pleasant Ventures
-- Legal & General Group
-- Fidelity International
-- Scottish Widows Investment
-- JPMorgan Asset Management
-- AllianceBernstein
-- Gottesman GLG Trust
One of Man's investors tells us: It doesn't make a lot of sense, especially with the new regulations....
Read more at http://www.businessinsider.com/rumor-in-london-is-a-bank-trying-to-buy-man-group-2011-7
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