Henderson completes sales negotiations with Gartmore
Sales negotiations lead to deal for Henderson.
Henderson has completed sales negotiations with Gartmore to acquire the firm for £335 million.
The combined group will form one of the biggest retail asset managers in the UK, with estimated assets under management of £78.1billion at December 31st, of which £61.6 billion is held by Henderson.
In addition Henderson announced it will offer a "significant enhancement" to their presence in UK retail asset management.
Commenting on the acquisition, Jeffrey Meyer, chief executive of Gartmore, said: "This transaction brings significant benefits to our shareholders and clients. We are becoming part of an enlarged group with much greater diversity and scale."
He added the company has been impressed with Andrew Formica and the Henderson team and are "very excited about the potential of the combined company".
Sales negotiations may also soon prove useful for Myspace, as it has been widely reported the social networking site - owned by News Corp - is preparing to axe around half of its staff in preparation for a potential sale.