Update: Jupiter completes £390m Merian GI acquisition

UK's second-largest retail fund manager formed

Jupiter Fund Management has completed the £390m acquisition of Merian Global Investors, following investor approval of the deal.

The group confirmed in a stock exchange statement this morning (1 July) that all of the conditions to completion have now been satisfied, and admission to the premium listing segment of the Official List of the Financial Conduct Authority and unconditional dealings in shares are expected to commence tomorrow (2 July) at 8am. Jupiter will issue 95,360,825 new ordinary shares to the sellers of Merian. The firm's share price bounced 2.5% as markets opened this morning. In an 11 June update, Jupiter set the timeline for completion as the second half of the year and not before 1 July. It a...