Wednesday, 6 May 2015
Last updated 28 min 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%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…