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Gartmore confirms takeover talks with Henderson

Gartmore and Henderson have confirmed they have entered into negotiations about a conditional offer by Henderson to acquire the entire share capital of the company.

A statement from Henderson says: “Following Gartmore Group Limited’s (Gartmore) announcement today, Henderson Group confirms that it is in discussions regarding a potential acquisition of Gartmore. Henderson’s proposal is conditional. No terms have been agreed and there can be no certainty that a transaction would proceed on the basis set out in Gartmore’s announcement.”

Gartmore says the negotiations are on the basis of a proposal at a slight discount to its share price at the close of trading on December 16. Shares in Gartmore closed at 104.8p on Friday.

If an offer was made for the company on the basis of 95p a share, this would value Gartmore at around £344m.

In November, Gartmore announced that it was undergoing a strategic review and would consider a sale or merger following the departure of star fund manager Roger Guy.


Clegg calls on banks to show visible restraint over bonuses

The Government will intervene if banks pay out large bonuses and do not increase lending, according to the Deputy Prime Minister. In an interview with the Financial Times, Nick Clegg says banks must appreciate what is happening in the wider economy. He says: “The banks should not be under any illusion, this Government will not […]

Three way split at MPC over inflation continues

The three way split in the monetary policy committee over how to deal with elevated inflation continues, according to the minutes from their last meeting. Released this morning, the minutes from the MPC’s meeting on the December 8th and 9th show external member Adam Posen maintains his call for further quantitative easing while external member […]

Wilson on Eve of a change

Bruce Wilson is stepping down as Helm Godfrey managing director in January 2011 to concentrate on financial planning service Project Eve. He will still advise at the firm but will spend most of his time on Project Eve, which he co-founded to promote George Kinder’s life planning concept to lower-income groups. Wilson says Project Eve […]


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