Tuesday, 6 October 2015
Last updated 54 min ago
Apr 24 2012 | 2:16pm ET
The Man Group is worth more than the market says, making it an attractive takeover target, according to UBS.
The bank's analysts said Man was trading at a 5% discount to the value of both its business and cash holdings, the UBS report says. Man's shares have lost 23% this year after dropping 58% last year.
Those declines and Man's "top-tier distribution network" in Asia make it an attractive target. BlackRock and Franklin Resources are among the possible bidders, UBS said.
"There is now a substantial risk of Man Group receiving a bid approach," UBS' Arnaud Giblat wrote. "Man Group would offer significant strategic value to an acquirer, as the group is well-positioned to benefit from the long-term structural trends in asset management."
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…