Man-BlackRock Rumors Die Down

Feb 18 2010 | 3:14am 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%.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...