mergers

Tobacco stocks pushed the FTSE 100 higher at open today after details of a mega-merger between two of the largest US tobacco companies reached final stages.

Henderson global Investors has agreed a deal to buy US fund manager Geneva Capital Management in a deal worth up to $200m (£117m).

Ignis Asset Management chief executive Chris Samuel is to exit the business next week when the takeover by Standard Life Investments completes, Investment Week understands.

UK pharmaceutical group Shire saw shares jump 10% by mid-morning, after it revealed it rejected a £27bn bid approach from a US group.

Apple has acquired headphone manufacturer Beats Electronics - the company part-owned by hip hop mogul Dr. Dre - for $3bn, after carrying out its largest ever acquisition.

AstraZeneca has rejected a new takeover bid by Pfizer, arguing it still undervalues the business.

3i Group has sold its stake in Bestinvest to private equity firm Permira for an undisclosed sum.

With true alpha proving ever harder to come by, it is no surprise that articles highlighting some of the top performers of recent years proved among the most popular of this week's stories.

Gottex Fund Management is to take a majority stake in UK multi-asset boutique Frontier Investment Management.

Now we have published our final issue of Investment Week for 2012, we reflect on what has been a rollercoaster year characterised by big changes in the fund management industry.