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

View the article online at http://citywire.co.uk/wealth-manager/article/a743122

Goldman Sachs jumps in and out of F&C

by Robert St George on Mar 27, 2014 at 08:49

Goldman Sachs jumps in and out of F&C

Goldman Sachs bought and swiftly sold a large stake in F&C Asset Management just before the meeting to approve its takeover.

According to disclosures this week, on 19 March Goldman Sachs took its position in F&C from below 3% to 6.6%, worth around £47 million. Then on 21 March Goldman Sachs reduced that back below 3%.

F&C’s share price traded in a narrow band of between 122p and 120.7p through the period, implying a maximum possible loss for Goldman Sachs of 1.1%.

Had Goldman Sachs bought at the lowest possible share price on 19th and sold at the highest possible point on the 21st, it would have recorded a 0.4% gain.

On 25 March F&C shareholders accepted Bank of Montreal’s offer to acquire the company for £708 million.

Since the deal was first revealed in January, F&C’s share price has surged by 29%.

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 (FCAM.L)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

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

Sorry, this link is not
quite ready yet