R&M bidding war reaction: AssetCo slightly better fit

Not surprised at consolidation

While investors and industry commentators are not surprised about the latest potential consolidation within the industry, they are eyeing the recent bidding war for R&M with interest and some believe AssetCo may be the better fit.

This morning, following press speculation over night, Premier Miton Group confirmed it has approached R&M about a merger that could create a business with more than £18bn in assets, while AssetCo also confirmed it has made an offer to the firm. Darius McDermott, managing director of FundCalibre, said he was "[not] surprised there is more consolidation on the cards". He went on to point out "there are always economies of scale when you merge businesses and clearly both Asset Co and Premier Miton think there is an opportunity here."  R&M share price rockets 13% as Premier Miton and Asse...