Jupiter Fund Management hovering as Gartmore’s share price dips
|July 23rd, 2010||
|After Gartmore Investment Management lost its star trader Guillaume Rambourg as a casualty of a Financial Services Authority investigation, the fund manager’s share price fell, which has sparked the interest of fund manager Jupiter Fund Management. Led by chief executive Edward Bonham Carter, Jupiter, which would benefit from the boost it would receive with the acquisition of Gartmore’s hedge fund offerings, could be weighing the benefits of a strategic takeover, according to Financial News. |
However, both Jupiter and Gartmore have significant debt, which could block an acquisition, and some analysts say that the funds would benefit more from overseas expansion rather than remaining in the United Kingdom. Jupiter’s decision to purchase Gartmore would have to come suddenly - but right now, the manager’s low share price could be attractive.
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