M&G rallies as Schroders said to have mulled buyout
Schroders
347.20p
16:44 25/04/24
-5.45%
-20.00p
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.
Financial Services
13,969.36
17:09 25/04/24
0.80%
111.28
FTSE 100
8,078.86
17:14 25/04/24
n/a
n/a
FTSE 350
4,434.34
17:09 25/04/24
n/a
n/a
FTSE All-Share
4,387.94
16:49 25/04/24
n/a
n/a
M&G
197.90p
16:40 25/04/24
-0.55%
-1.10p
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.