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Macquarie considering takeover of £5bn FTSE 100 firm M&G
by cityam
CITY A.M. REPORTER
AUSTRALIAN banking giant Macquarie, is reportedly considering a takeover bid for London-listed investment manager M&G.
Discussions at the Aussie firm about snapping up the FTSE 100 fund, which has a market capitalisation of just over £5bn, are in the early stages and it has not made an approach to M&G’s board yet, Sky News reported late yesterday.
Macquarie is being advised on the matter by Morgan Stanley, Sky News said.
The report comes after shares in the firm jumped last Friday following speculation about a potential offer from an unidentified suitor.
M&G manages almost £350bn of assets, and holds stakes in many top London-listed companies.
Macquarie declined to comment and M&G said they don’t comment on rumours when contacted by City A.M. about the report.
