Saturday, 25 October 2014
Last updated 1 day ago
Feb 18 2010 | 2:14am ET
Speculation that money management giant BlackRock was mulling a move for hedge fund giant Man Group quieted after rumors about a bid sent Man shares soaring.
A source close to BlackRock told Reuters that there was no truth to market whispers that the New York-based fund was interested in buying Man, the world’s largest listed hedge fund manager. Britain’s Daily Mail reported the rumors yesterday, which, combined with news that BlackRock had taken a 10% stake in Man, sent traders into a frenzy.
But according to the Reuters source, BlackRock has no interest in acquiring Man.
The rally in Man shares died down as speculation was replaced by skepticism. Still, the hedge fund’s shares ended the day up 5.2%.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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