Gartmore shares rise 5% as Henderson lays out £335m deal

Gartmore's share price jumped 5% in early trading as the market absorbed Henderson's offer to buy the troubled fund manager in a £335m deal.

Henderson's full acquisition of Gartmore should take place in the next few months after weeks of negotiations. The market responded positively with Gartmore shares rising 5.4% to 95.5p. Henderson has offered Gartmore shareholders two Henderson shares for every three Gartmore shares they hold. This values Gartmore at £345m. Boards for both groups have recommended shareholders accept the offer and the majority of Gartmore's fund managers have agreed to the terms. The managers, which represent 84% of Gartmore's AUM, that have already agreed to join Henderson are Charlie Awdry, Chri...