Gartmore deal reaction: Gosling's Grouse

The deal announced today is a neat swerve by Henderson to pick up Gartmore on a two for three shares basis, which allows everyone involved to walk away with a semblance of dignity and begins to draw a line under a tricky period, to say the least.

The deal values Gartmore at £335m, above its initial offer just before Christmas of £330m, but it is noticeable Henderson isn't stumping up any cash but has managed to tie in a pool of good Gartmore managers. That continuity, which mirrors the deal Henderson did with New Star, will at least give investors and advisers some comfort that portfolios moving under the Henderson banner will retain the same managers. Of course Henderson is going to have an embarrassment of riches in certain areas - such as European equities - but it will give it some additional strength in some markets, incl...