Henderson to buy New Star for £115m

Henderson has this morning announced it has agreed to acquire New Star Asset Management for £115m. ...

Henderson has this morning announced it has agreed to acquire New Star Asset Management for £115m. The offer will be 2p in cash for each New Star ordinary share, which values the entire issued and to be issued ordinary share capital the John Duffield-led firm post-completion of its bank restructuring at approximately £21.6m. Existing New Star ordinary shareholders will receive approximately £5.4m and Henderson will part finance the purchase by placing up to 72.3m in new shares to investors, representing approximately 9.9% of its existing issued ordinary shares. The offer is conditiona...