Schroders pursued M&G bid to create UK's largest fund house - reports

Abandoned before a bid was made

James Baxter-Derrington
clock • 1 min read
The deal would have resulted in Schroders managing more than $1trn in assets

The deal would have resulted in Schroders managing more than $1trn in assets

Schroders spent months exploring a possible bid for M&G to create a UK fund house with over $1trn in assets under management, according to reports.

Speaking anonymously to Bloomberg, it was explained that Schroders had been working with a partner earlier this year and explored the idea of a breakup of M&G, carving its asset management operations from its pension and insurance unit. However, the idea was recently abandoned after the bounceback in M&G's share price made the firm too expensive to continue pursuing an acquisition. Asset management M&A drive 'accelerated' by coronavirus crisis The firm's share price has more than doubled since its 2020 lows and currently sits at 229.20, giving M&G a market value of $8bn. As such...

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