Monday, 4 May 2015
Last updated 2 days 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."
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…