According to Reuters the chief executive of Man Group on Tuesday dismissed the need for a takeover
of the embattled hedge fund firm and said shareholders remained supportive of
management, despite a near-60 percent decline in the share price since
September.
"We don't feel we need a big brother in order to
achieve our strategic objectives," said Peter Clarke, who took over as CEO
from industry 'godfather' Stanley Fink in 2007.
Last week analysts at UBS said that Man Group was a
"likely take-out candidate" and that they would "not be
surprised to see a big from a North American asset manager".
Clarke added: "I don't feel our shareholders do
anything other than support existing management, as witnessed by the proxy
votes…."
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