rumour In London: Is A Bank Trying To Buy Man Group?

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


— 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.

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