29th Jul 2019 09:28
(Alliance News) - Liontrust Asset Management PLC on Monday confirmed that it is in talks to buy rival Neptune Investment Management Ltd.
The company was responding to a Sunday Times newspaper report, which said Neptune was worth about GBP25 million.
Shares in Liontrust were trading 2.2% higher on Monday at 832.00 pence each, giving it market capitalisation of GBP422.1 million.
Liontrust said there can be no certainty that the discussions will lead to any agreement concerning the possible acquisition of Neptune or as to the timing or terms of any such agreement.
At June 30, Liontrust's assets under management stood at GBP14.10 billion, 11% ahead of the GBP12.67 billion seen at March 31.
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