F&C Sale To BMO Approved

Mar 26 2014 | 10:42am ET

F&C Asset Management has the backing of its shareholders for a £708 million sale to the Bank of Montreal, the firm said yesterday.

F&C said an overwhelming 99.6% of shares voted in favor of the deal, which was announced in January. The merger will close on May 6.

The vote puts to rest speculation that Elliott Management might seek to drive up BMO’s price or to find a rival bidder. Elliott last month bought an 11% derivatives stake in F&C.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of