UK's Henderson To Nab Gartmore For £335.3M

Law360, New York (January 12, 2011, 7:33 PM EST) -- British asset management house Henderson Group PLC announced a stock deal Wednesday to acquire troubled investment firm Gartmore Group Ltd. in a transaction valued at £335.3 million ($524 million).

The deal values Gartmore’s stock at 92.1 pence a share, down from the company’s closing price of 138.2 pence a share on Tuesday. Gartmore shareholders will acquire two-thirds of new Henderson shares as part of the deal.

The proposed transaction comes about a year after Gartmore executed an initial public offering at 220 pence a share and...
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