April 18 (Reuters) - Liontrust Asset Management said on Tuesday that it was in talks to buy Switzerland's GAM Holding AG to combine its investment management unit with the Zurich-based firm.
The London-listed fund manager said it had approached GAM's board.
GAM later in a separate statement confirmed the discussions with Liontrust and hinted it was also in talks with other parties. The companies did not disclose details on any possible deal.
GAM, which has a market value of 93.93 million Swiss francs ($104.87 million), had reported assets under management in its investment business of 27.1 billion francs as at June 30, 2022.
The news comes weeks after the decision of investment banks Cenkos Securities and finnCap Group to merge in a 21-million-pound ($25.9 million) all-stock deal.
Liontrust, which is set to release its annual results on Wednesday, had reported 32.6 billion pounds in its assets under management and advice in the December quarter helped by better fund flows.
GAM is set to release its results for the full year on April 25. ($1 = 0.8957 Swiss francs) (Reporting by Muhammed Husain, Sinchita Mitra and Prerna Bedi in Bengaluru; Editing by Sherry Jacob-Phillips, Shailesh Kuber and Sharon Singleton)
