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...The formal withdrawal of the offer will kick off an auction process that is expected to draw bids from parties including hedge fund boss Paul Marshall, Rupert Murdoch’s News UK, and newspaper group National...
...Bridgepoint’s annual report attributed the decline to “reduced levels of exits in Bridgepoint funds”. Jefferies and Bridgepoint declined to comment....
...Based in Chessington, south-west London, Audiotonix was created through the merger of three businesses, DiGiCo, Allen & Heath and Calrec....
...Brussels has signalled it is open to European telecoms mergers to help fund the rollout of 5G and update ageing networks, in what is likely to be seen as a softening of approach after regulators quashed...
...If UK fund management has a Frankenstein’s monster then Abrdn best fits the bill....
...Mounting regulation is increasing the burden on asset managers, driving merger discussions in the industry as fund groups seek to increase their asset base and slash costs....
...And one interview to start: Europe is less hard-working, less ambitious, more regulated and more risk-averse than the US, according to the boss of Norway’s giant oil fund, with the gap between the two continents...
...In recent months, the regulator sued Apple for allegedly building a monopoly in the smartphone market and it also sued to block Kroger’s acquisition of Albertsons — the largest supermarket merger in US history...
...Dealmakers have long been used to activist hedge fund investors trying to force a company to break up, fire a chief executive or win over a board seat....
...Blackstone has made repeated, but lower, offers for the company. Blackstone also part owns Hipgnosis Song Management (HSM), the manager of Hipgnosis Songs Fund....
...time to strike a mega-merger....
...But the Saverys family, which owned some 13 per cent of Euronav at the time, was against the merger....
...be one of the largest leveraged buyouts in the past decade easier to pull off, said people familiar with the fund’s thinking....
...Hipgnosis Songs Fund, the listed UK music rights investment company, has agreed to a $1.4bn takeover from US rival Concord Chorus....
...In 2017, Best joined Elliott as the hedge fund sought to build out a private equity strategy....
...Charles said the firm’s recent fundraising was a sign of strong appetite among institutional investors, including insurers, pensions funds and family offices, to put money into the sector....
...the most popular funds, which tend to be passives focused on tech and US markets....
...He added that he thought the asset management sector would see more consolidation in future. “There are just too many small fund managers there . . . [but the sector] will rebound.”...
...There’s another motivation: the group already owns part of Hipgnosis Song Management, the fund’s manager and investment adviser....
...The group agreed this week to take a 26.1 per cent interest in Victory Capital Holdings, a $2.8bn US-listed fund manager....
...Since then a series of mergers and acquisitions have resulted in many firms huddling together for warmth, seeking some combination of better economies of scale or expertise to navigate the new environment...
...It is not surprising that when a fund comes up with one, it wishes to ensure that none of the value creation leaks to anyone else. The Jana/Cannae partnership is not completely novel....
...The problem lies not just with Liontrust and its dealmaker, chief executive John Ions, but the entire active fund management industry....
...taking advantage of minority interests.The hedge fund last week took to the Belgian courts to try to unwind the deal, arguing that the agreement between the two parties to drop the merger gave up the opportunity...
...This led shareholders to decide against the continuance of the fund in a vote last year, sparking a strategic review by a new board and ultimately Thursday’s agreement to sell the fund to US rival Concord...
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