The subject of takeover speculation for months, there are fresh indications that troubled Swiss asset manager GAM could soon be acquired by a British competitor.
Swiss asset manager GAM confirmed Tuesday evening that it is in talks with various British asset managers about its possible acquisition, with Liontrust Asset Management said to be in the mix.
A «Sky News» report stirred takeover speculation, which pushed GAM share prices up by more than twenty percent at times during intraday trading. Liontrust had confirmed to «AWP» it was in takeover talks with GAM for its entire issued share capital. The intention is to combine the investment management businesses of the two firms.
British Powerhouse
The combined companies would manage about 100 billion British pounds ($124.2 billion) in client assets. Liontrust is worth significantly more than GAM, with a market capitalization of 685 million francs ($763.4 million), while GAM is worth just over 100 million francs.
Zurich-based GAM has been the subject of takeover rumors in recent years. After a prominent fund manager was suspended in 2018 for serious misconduct, trouble continued to plague the company. GAM has also been implicated in the collapse of the supply chain finance group Greensill Capital, from which it has yet to recover.
