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Perpetual talks may bring US takeover

Perpetual could be the next UK fund manager to fall into foreign hands following speculation that US investment firm Amvescap is considering making a bid for the firm.

Perpetual confirmed on Tuesday that it was in potential takeover talks but

would not confirm Amvescap&#39s involvement.

A successful takeover by Amvescap would bring Perpetual into the same

stable as its rival Invesco but IFAs are not convinced the two would be

amalgamated.

Chase de Vere IFA Ian Millward says: “Perpetual is out of favour and

Invesco is up at the moment but it was the other way round only a few

years ago. If the two firms end up in the Amvescap house, they may still

want to keep the two separate so that one is always on the up.

“But a merger certainly would not be disastrous. Neither have particularly

dominant house styles. Perpet- ual has been strong in the UK while Invesco

has performed well in Europe. These are two of the biggest players in the

UK so a merger may well be a success.”

Perpetual is one of the few remaining independent UK investment firms,

most of which have been looking vulnerable to takeover in the past months.

Friends Ivory & Sime could also fall into overseas hands as parent Friends

Provident demutualises and becomes vulnerable to takeover.

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