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Monday, November 28, 2016

Who Will Be Aberdeen's Janus?

News summary by MFWire's editors

Another British multinational asset manager could follow Henderson's footsteps by doing its own deal on this side of the pond.

Martin Gilbert
Aberdeen Asset Management
Aberdeen [profile] CEO Martin Gilbert says that he's interested in making a move in the U.S. similar to the Henderson-Janus merger, Sarah Jones of Bloomberg reports. And for those interested in being the Janus to Aberdeen's Henderson, it sounds like Gilbert has not finished his hunt just yet.

"We'd like to do something like that," Gilbert reportedly said of the impending Janus-Henderson merger. "There is nothing on the horizon."

Gilbert's revelation comes a week after he publicly confirmed that Aberdeen has dropped out of the bidding for Pioneer Investments. Gilbert told Bloomberg that the Pioneer bidding has reached 3.5 billion euros ($3.7 billion) and that Aberdeen "couldn't quite afford" such a price. So, potential sellers, if you're asking for $3.7 billion or more, Aberdeen may not be the right buyer for you.

As of June 30, Aberdeen had $402.9 billion in AUM and more than 2,800 employees in 38 offices across 25 countries. The 33-year-old company (ticker ADN on the LSE) has a market cap of 3.62 billion pounds ($4.49 billion). 

Edited by: Neil Anderson, Managing Editor

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