By Laurence Fletcher
LONDON May 1 The chief executive of Man Group
on Tuesday dismissed the need for a takeover of the
embattled hedge fund firm and said shareholders remained
supportive of management, despite a near-60 percent decline in
the share price since September.
"We don't feel we need a big brother in order to achieve our
strategic objectives," said Peter Clarke, who took over as CEO
from industry 'godfather' Stanley Fink in 2007.
Last week analysts at UBS said that Man Group was a "likely
take-out candidate" and that they would "not be surprised to see
a bid from a North American asset manager".
Clarke added: "I don't feel our shareholders do anything
other than support existing management, as witnessed by the
The firm, which reported a reduction in net client outflows,
holds its annual general meeting on Tuesday.