Man Group faces further writedowns over GLG deal - FT
LONDON Dec 14 (Reuters) - Hedge fund firm Man Group is weighing significant writedowns next year relating to its 2010 acquisition of GLG Partners, the Financial Times reported on Friday.
It is likely that Man, which on Monday said Emmanuel Roman will replace Peter Clarke as chief executive, will have to take further impairments in February when it announces full-year results, the paper said, citing people at the company.
"It is reviewed twice yearly and no decision has been taken," said a Man spokesman. "The carrying value of GLG and other assets will be disclosed in the normal way with full-year results in February."
- Iraqi security forces and Kurds gain ground against Islamic State
- U.S. diplomat travels to West Africa as Ebola quarantine moves take hold |
- U.S. nurse quarantined over Ebola criticizes her treatment |
- Washington state teen shooter's family living in 'nightmare'
- Ukraine votes in poll likely to strengthen president's hand |