Man Group shares jump as traders cite bid talk

LONDON Thu Oct 7, 2010 5:51am EDT

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LONDON (Reuters) - Shares in Man Group gained sharply on Thursday, with traders citing talk of bid interest.

By 10:37 a.m., Man Group (EMG.L) shares had gained 5.1 percent to 249.6 pence. About 4.2 million shares had changed hands, representing 57 percent of its 90-day daily average. In contrast, volumes at Britain's FTSE 100 .FTSE were 26 percent.

One trader said that a major U.S. bank was looking to bid for Man Group at 390 pence a share.

Man Group was not immediately available for comment.

(Reporting by Simon Falush, Atul Prakash, Claire Milhench and Blaise Robinson)