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(Sharecast News) - M&G shares rallied on Thursday following a report that Schroders spent months earlier this year looking at a potential buyout of the investment manager.
According to Bloomberg, Schroders was working with a partner earlier this year to consider a breakup of M&G by splitting its asset management operations from its pension and insurance unit.
It was understood that Schroders recently ditched the idea after deciding that M&G would be too expensive.
People with knowledge of the matter told Bloomberg that the deliberations by Schroders never led to any formal discussions with M&G.
At 1435 BST, M&G shares were up 3.9% at 228.55p, at the top of the FTSE 100 index.
8 Aug 2022 08:18
LONDON BRIEFING: BHP's GBP5 billion approach for Oz Minerals rejected
(Alliance News) - Miner BHP on Monday said that it offered to buy Oz Minerals late last week but that the Oz board rejected its approach.
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