Australian investment bank Macquarie is reportedly considering a takeover of British asset manager M&G.
Sydney-headquartered Macquarie is in the early stages of exploring an approach to M&G for a takeover bid, according to a report by Australian media outlet «Sky News» citing unnamed sources.
The bank is being advised by Morgan Stanley and could still decide against a formal offer. If it does extend one, M&G would be advised by its retained advisors Goldman Sachs, Bank of America and Evercore.
Schroders Attempt
M&G has repeatedly been the subject of takeover speculation in recent years with Schroders having reportedly contemplated an offer in 2022. The rival British asset manager subsequently decided against doing so with CEO Peter Harrison citing cultural factors as the reason.
Established in 1931 and headquartered in London, M&G has 348.9 billion British pounds ($417.6 billion) in assets under management, as of 30 June 2022.
