Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

F&C agrees terms of all-cash takeover

by David Campbell on Jan 28, 2014 at 07:57

F&C agrees terms of all-cash takeover

Bank of Montreal and F&C Asset Management have agreed the terms of an all-cash £708 million takeover, offering F&C shareholders 120p per share in addition to a 2p dividend.

The price places a 30.5% premium on the 93.5p that F&C traded at the close of market on 24 January, before the deal was announced yesterday.  

The company, the UK’s oldest asset management business with roots stretching back to the launch of the Foreign & Colonial Investment trust in 1868, has extensively restructured in recent years, but shares in the business have not materially re-rated relative to its sector.

‘F&C has made significant progress in the last couple of years,’ said chief executive Richard Wilson.

‘We have developed new products, strengthened our distribution channels and reduced our cost base, putting the business in a strong position to move forward.

‘BMO represents a unique opportunity to broaden and accelerate our ambitions. The products, geographic presence and cultures of both organisations are truly complementary and with BMO's commitment to growth, this is clearly a very positive outcome for both our clients and employees.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment

With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Look up the shares

  • F&C Asset Management PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us


On the road

Click here to find out more from the Audience Development team.


How is regulation feeding the outsourcing trend?

on Jul 24, 2014 at 10:59

Sorry, this link is not
quite ready yet