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    JUP   GB00B53P2009

JUPITER FUND MANAGEMENT PLC

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

02/15/2020 | 05:56pm 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)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
JUPITER FUND MANAGEMENT PLC -1.75% 269.6 Delayed Quote.-3.12%
OLD MUTUAL LIMITED -1.50% 65.45 Delayed Quote.11.38%
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Financials
Sales 2021 466 M 646 M 646 M
Net income 2021 125 M 174 M 174 M
Net cash 2021 179 M 248 M 248 M
P/E ratio 2021 11,9x
Yield 2021 6,49%
Capitalization 1 493 M 2 061 M 2 071 M
EV / Sales 2021 2,82x
EV / Sales 2022 2,59x
Nbr of Employees 618
Free-Float 75,1%
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Technical analysis trends JUPITER FUND MANAGEMENT PLC
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 304,85 GBX
Last Close Price 273,60 GBX
Spread / Highest target 27,2%
Spread / Average Target 11,4%
Spread / Lowest Target -19,6%
EPS Revisions
Managers and Directors
NameTitle
Andrew James Formica Chief Executive Officer & Executive Director
Wayne Mepham Chief Financial Officer & Executive Director
Nichola Pease Non-Executive Chairman
Paula Marion Moore Chief Operating Officer
Stephen Brian Pearson Chief Investment Officer
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