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CGU threatens pull-out of Gartmore race

CGU is threatening to pull out of the race to buy Gartmore because the asking price is too high.


The fund manager was originally estimated to be worth about £550m but the valuation has risen dramatically to £900m.


Old Mutual, whose bid of around £550 m for Gartmore was thought too low, said this month that it was no longer interested.


Gartmore has almost £6 bn funds under management, and Dutch bank ABN-Amro, Italian group Unicredito Ohio based Nationwide Insurance and Credit Suisse Asset Management are still thought be in the running.

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Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.

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