British asset manager Jupiter Fund Management closing in on takeover of its smaller rival Merian Global Investors
British asset manager Jupiter Fund Management is closing in on a takeover of its smaller rival Merian Global Investors.
An announcement about the deal could come as early as today after Jupiter confirmed over the weekend it had been in talks to buy Merian ‘for some time’.
Deal: Jupiter has £45.2bn of assets under management, while Merian oversees £22.4bn
The tie-up would create a £67 billion fund giant. Jupiter has £45.2 billion of assets under management, while Merian oversees £22.4bn.
Jupiter will pay Merian’s American private equity owner TA Associates up to £500m in cash and shares, according to Bloomberg.
Although Jupiter said both companies are confident the tie-up would benefit investors, it stressed there was ‘no certainty’ an agreement would be reached.