Elliott Takes Stake In Acquisition Target F&C

Feb 28 2014 | 10:45am ET

Elliott Management may be trying to boost the acquisition price of a fellow asset manager.

The New York-based activist hedge fund has taken an 11% stake in F&C Asset Management through derivatives, the Financial Times reports. The Bank of Montreal last month offered to buy F&C for £700 million.

Elliott is expected to agitate for a higher price, either from BMO or a rival bidder.

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