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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Jupiter Fund Management plc    JUP   GB00B53P2009

JUPITER FUND MANAGEMENT PLC

(JUP)
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Jupiter Fund Management : in advanced talks to buy Merian Global Investors

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02/15/2020 | 06:56pm EDT

Britain's Jupiter Fund Management confirmed on Saturday that it is in advanced talks to buy asset manager Merian Global Investors from private equity firm TA Associates.

"The board of Jupiter sees this as an attractive opportunity to acquire a high quality independent active manager that would represent a strong fit with Jupiter in both investment management philosophy and culture," the company said in a statement http://bit.ly/2uFmUX3, adding that the talks are still ongoing.

The talks, which Jupiter said have been underway for "some time," come less than two years after Merian was created through a private equity-backed buyout from Anglo-South African financial services company Old Mutual in June 2018.

Merian, which like other active asset managers has faced pressure to lower costs as more investors opt for cheaper, index-tracking funds, had in December revealed plans to restructure its business and cut jobs.

Bloomberg had first reported on the negotiations between Jupiter and Merian.

(Reporting by Akshay Balan in Bengaluru, Editing by Rosalba O'Brien)

Stocks mentioned in the article
ChangeLast1st jan.
JUPITER FUND MANAGEMENT PLC -3.00% 194 Delayed Quote.-52.64%
OLD MUTUAL LIMITED -9.90% 56.06 Delayed Quote.-46.86%
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Financials (GBP)
Sales 2020 337 M
EBIT 2020 133 M
Net income 2020 84,5 M
Finance 2020 191 M
Yield 2020 10,1%
P/E ratio 2020 10,9x
P/E ratio 2021 8,33x
EV / Sales2020 1,99x
EV / Sales2021 1,77x
Capitalization 862 M
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Mean consensus UNDERPERFORM
Number of Analysts 15
Average target price 281,00  GBp
Last Close Price 194,00  GBp
Spread / Highest target 114%
Spread / Average Target 44,8%
Spread / Lowest Target -20,1%
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Managers
NameTitle
Andrew James Formica Chief Executive Officer & Director
Nichola Pease Non-Executive Chairman
Wayne Mepham Chief Financial Officer & Director
Edward Henry Bonham Carter Vice Chairman
Jonathon Roderick Alan Bond Senior Independent Director
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