Bank of Montreal considers bid for FC

Canadian group BMO Financial, or Bank of Montreal‚ has put forward an indicative offer to purchase F&C Asset Management.

Bank of Montreal considers bid for FC


In what would be an all-cash deal, Canada's fourth-largest bank has offered to pay 120p in cash per share, with F&C shareholders also entitled to receive and retain an ordinary course dividend of 2p per share for the financial year ended 31 December 2013.
No firm offer has been made, so BMO must decide whether or not to formalise the offer by 24 February, although both parties are involved in "advanced discussions", with the support of F&C's board.
The stock exchange announcement said: "F&C and BMO are in advanced discussions about the details of the possible offer and the board of F&C has indicated to BMO that it is likely to recommend a firm offer at the offer price."
F&C is one of the UK's largest listed asset managers with more than £90bn in AUM. 



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