BMO makes offer for F&C Asset Management

Mon Jan 27, 2014 7:35am EST
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LONDON Jan 27 (Reuters) - British fund firm F&C Asset Management said on Monday it had received an offer from Canadian bank BMO Financial Group in what would be an all-cash deal.

F&C said BMO has offered to pay 120 pence in cash per share, and that it has indicated it is likely to recommend a firm offer at the price.

Shares in F&C rose 24 percent on the news and were trading at 115 pence by 1230 GMT.