The UK-listed investment management firm Henderson announced today it proposes to buy embattled rival Gartmore Group in a deal that would create a firm with combined assets under management of £78 billion (around $121.9 billion).
The UK-listed investment management firm Henderson announced today it proposes to buy embattled rival Gartmore Group in a deal that would create a firm with combined assets under management of £78 billion (around $121.9 billion).
Under the terms of the deal, Gartmore shareholders will receive two Henderson shares for every three Gartmore shares.
“The boards of both Gartmore and Henderson intend to recommend unanimously to shareholders that the offer be accepted,” according to a statement from Henderson. The acquisition is expected to be completed in the next three months, subject to regulatory and shareholder approval.
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