Man Group has agreed a deal 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 ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes