Henderson Group is rumoured to be eyeing a potential bid for Gartmore less than 18 months after completing a deal for New Star Asset Management.
According to the Daily Mail, Henderson is believed to be interested in the firm given that its share price has fallen by more than £1 since its flotation in December 2009.
“The group has made no secret that it wishes to continue scouting potential acquisitions”
Gartmore’s shares rallied by 3.7% to 117.3p yesterday as speculation grew that Henderson, which has £22 billon of assets under management, was the interested party.
Last year Henderson acquired New Star for a cut price £115m and the group has made no secret that it wishes to continue scouting potential acquisitions.
Gartmore has had torrid time since its flotation at the end of 2009. In March this year the group suspended Guillaume Rambourg—who alongside Roger Guy was one of the firm’s star managers—amid concerns that he had broken company trading rules. (article continues below)
He was reinstated as an analyst only to resign last month to clear his name amid an Financial Services Authority probe of his actions.
Gartmore shares opened lower and at 8.52am they had fallen 1.54% to 115.2p per share.