Rumor Has It: BlackRock’s Bid For Man

Holy Crap! How the mighty have fallen. BlackRock and a group of investors is mulling a £2.5 billion bid for the Man Group, a British tabloid reports..... According to the Daily Mail, BlackRock and "friends" might be readying an offer for the publicly-traded hedge fund giant, which has hit on hard times. BlackRock owns 9.35% of Man and has long been mooted as a possible bidder for the firm....... A £2.5 billion offer would represent a huge premium to Man's current share price. The offer would be about £1.40 per share, Man has been trading at below £0.90 per share and as recently as June was as low as £0.61. Man shares shot up to as high as £0.96 per share after the Mail's report yesterday, but ended trading today back below £0.90. And while the rumors put some juice in Man shares, some remain skeptical…................................................................. Read all about it at http://www.finalternatives.com/node/21837