Two Australian financial giants in £550m battle for OMGI buyout

Part of a 'small handful' of names in the frame

Two Australian financial services firms have engaged in a £550m bidding war for Old Mutual Global Investors (OMGI), the asset management arm of Old Mutual, according to reports.

Challenger and Macquarie Investment Management are two of a "small handful" of bidders for the £25bn stake in the asset management arm of the Anglo-South African financial services group, according to Sky News. Other names in the frame for the buyout of Old Mutual Global Investors (OMGI), led by CEO Richard Buxton, include TA Associates, which has previously invested in groups including  Jupiter Asset Management. The Financial Times also reported US private equity group Carlyle has joined the bidding war. Old Mutual sets bid deadline for Buxton's business According to Sky News, pa...