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:
— Collins Stewart
— Point Pleasant Ventures
— Legal & General Group
— Fidelity International
— Scottish Widows Investment
— JPMorgan Asset Management
— Gottesman GLG Trust
One of Man’s investors tells us: It doesn’t make a lot of sense, especially with the new regulations.