New Star confirms rival indicative offers

The Sunday Telegraph yesterday reported Schroders has bid more than £100m for the troubled asset manager, which last month agreed a debt for equity swap with its banking syndicate. Rivals Neptune, Henderson and an unnamed private equity firm were also believed to have made indicative proposals prior to a deadline last week, the papers added. "New Star confirms that it has received indicative proposals from a number of third parties with respect to the company's business, including a possible offer for the company's ordinary shares, conditional upon, inter alia, the restructuring taking ...