25th Oct 2021 21:45
(Alliance News) -Â FTSE 100-listed asset manager Schroders PLC is circling River & Mercantile Group PLC's solutions business and could announce a deal as soon as Tuesday morning, Sky News reported late Monday.
Sky, citing sources, reported Schroders has agreed to pay around GBP230 million for the R&M unit and is in advanced talks over an acquisition. Schroders would add around GBP43 billion in assets under management through the deal.
https://news.sky.com/story/schroders-swoops-for-river-mercantile-arm-in-230m-deal-12444516
R&M in August confirmed that it was in discussions over the sale of its fiduciary division, known as Solutions, saying it had received a "number" of approaches.
Shares in Schroders closed up 0.2% at 3,564.00 pence in London on Monday, while R&M ended down 1.7% at 236.00p.
By Lucy Heming;Â [email protected]
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