BMO Lobs $1.2B Takeover Bid At F&C

Law360, New York (January 27, 2014, 5:13 PM EST) -- U.K. money manager F&C Asset Management PLC said Monday it has received a cash takeover bid of just more than £697 million ($1.2 billion) from Canadian bank BMO Financial Group.

The independent investment manager said BMO has offered to pay 120 pence per share in cash for the all of the company’s issued and to be issued ordinary shares. F&C shareholders will also receive a dividend of 2 pence per share for the financial year that ended on Dec. 21 under the deal, F&C said....
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