Gartmore’s independence has come to an end more than a year after it listed on the London stock market with Henderson Global Investors’ agreement to take over the beleaguered fund manager.
The £366m deal will create a retail asset manager with assets of £78.1bn. The Gartmore name will be phased out by the summer. The Financial Times says the deal is likely to be a catalyst for further consolidation in the fragmented sector. Gartmore, whose chief executive Jeffrey Meyer will leave with a £5m pay-off, rose 12.25p to 103p and Henderson climbed 12.75p to 151p.
13/01/11 Financial Times 17, 18, 19
Times 41, 42, 47, 49
Daily Telegraph B3, B5, B7
Independent 29, 31, 36
Guardian 28
