L&G Investment Management is rumoured to be among the firms circling troubled New Star, Investment W...
L&G Investment Management is rumoured to be among the firms circling troubled New Star, Investment Week understands. The John Duffield-led company this morning confirmed it has received a number of indicative offers to acquire the business. According to the Sunday Telegraph, Schroders has bid more than £100m for New star, which last month agreed a debt for equity swap with its banking syndicate. Market insiders see L&G as a good fit with New Star, as the firm runs mostly passive mandates. Rivals Neptune, Henderson and an unnamed private equity firm were also believed to have made in...
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