Speculation that Macquarie Group is looking to acquire Jupiter Asset Management has been met with silence from both firms.
Macquarie’s asset management arm has US$376bn assets under management, while Jupiter manages £40.4bn ($49.1bn).
The Australian reported over the weekend that Macquarie was eyeing the UK asset manager as the fall of the British pound made it a more attractive takeover target.
It reported the Australian bank has been on the look out for offshore acquisitions as it seeks to diversify its revenues.
Both firms responded that they would be making “no comment” on the market speculation.
At the start of the month, Janus Capital and Henderson Global Investors announced they would be merging in 2017.
The newly merged company will be listed in Australia and New York.