Thursday, 23 October 2014
Last updated 1 hour 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."
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...