Man Group to acquire GLG Partners for $1.6bn

The takeover of GLG, which had funds under management of about $23.7bn at the end of Q1, would create an enlarged group of with approximately $63bn AUM. The acquisition is structured as a cash offer to the GLG public stockholders and a share offer to the GLG principals - Noam Gottesman, Pierre Lagrange and Emmanuel Roman. GLG public stockholders will receive $4.50 in cash for each share of GLG common stock, a premium of approximately 55% to GLG close on 14 May. The GLG principals, together with their related trusts and affiliated entities and two limited partnerships, will receive ...