(Alliance News) - Jupiter Fund Management has hired an advisory firm in a bid to boost its defence against possible takeover interest, Sky News reported on Saturday.
Sky News said the FTSE 250-listed fund manager has hired London-based advisory firm Robey Warshaw LLP to boost its defence against potential takeover tilts.
Citing City sources, Sky News said that while an offer has yet to materialise, a number of financial and strategic bidders are circling.
Quoting a "leading" shareholder in Jupiter, Sky said any bid for the company would need to be a "very substantial premium" to its current value.
https://news.sky.com/story/fund-manager-jupiter-hires-bankers-to-draw-up-1-5bn-bid-defence-plan-12492538
Jupiter Fund Management shares were 8.3% higher at 253.20 pence each in London on Monday afternoon. The company has a market capitalisation of around GBP1.40 billion.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Jupiter Fund Management (JUP)
