Man Group rumoured to be eyed for GBP 1.50-per-share bid from BofA
Man Group, the London-based hedge-fund manager, is tipped as a potential bid target for Bank of America, the Daily Express reported. The unsourced market report said Man stock rose slightly yesterday, 29 October, amid speculation of a bid pitched at approximately GBP 1.50 (EUR 1.75) per share from BofA or a rival US-based financial institution.
“Vague” rumours of interest in Man from an unspecified US bank were also mentioned in The Independent’s market report.
UK-listed Man has a market capitalisation of GBP 1.65bn; its shares were trading at 91p by yesterday’s close.
Source Daily Express, Independent