Key Developments: Man Group PLC (EMG.L)

EMG.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Man Group plc announces acquisition of Silvermine Capital LLC
Wednesday, 17 Dec 2014 07:06am EST 

Man Group plc:To acquire Silvermine Capital Management LLC, a Connecticut-based leveraged loan manager with $3.8 bln of funds under management across nine active collateralised loan obligation (CLO) structures as of Nov. 30, 2014.Acquisition is expected to complete in the first quarter of 2015.  Full Article

Man Group plc announces acquisition of Merrill Lynch Alternative Investments LLC's Fund of Hedge Fund Portfolio
Monday, 8 Dec 2014 11:17am EST 

Man Group plc:Enters into a conditional agreement with Merrill Lynch Alternative Investments LLC (Merrill Lynch) to acquire the investment management contracts to manage a portfolio of multi-strategy and strategy-focused fund of hedge funds (Portfolio).Acquisition is expected to complete in the second quarter of 2015, subject to certain approvals and consents, including approval of the board of managers and investors of a US registered investment company.Man Group's fund of hedge fund arm, FRM, has been selected to manage the Portfolio following a due diligence process which assessed its investment expertise, quality of personnel, investment process and ability to service clients.Following the completion of the Acquisition, Man Group intends to offer the funds to other investors globally as well as Merrill Lynch's and US Trust's wealth management clients.  Full Article

Man Group PLC completes acquisition of Numeric Holdings
Friday, 5 Sep 2014 10:07am EDT 

Man Group PLC:Says that acquisition of Numeric Holdings LLC by Man Group plc completed on Sept. 05.  Full Article

Man Group PLC announces interim dividend
Friday, 1 Aug 2014 02:01am EDT 

Man Group PLC:Declares interim dividend for the year to Dec. 31, 2014 of 4.0 cents per share (H1 2013: 2.6 cents per share).Interim dividend will be paid at the rate of 2.37 pence per share.E x-d dividend date Aug.13.Record date Aug. 15.Dividend paid Sept. 3.  Full Article

Man Group Plc announces acquisition of Numeric Holdings LLC
Thursday, 19 Jun 2014 02:00am EDT 

Man Group Plc:Entered into conditional agreement to acquire Numeric Holdings LLC.Numeric is privately-owned, Boston-based quantitative equity manager with $14.7 bln of funds under management as at May 31.Acquisition is expected to be earnings accretive from completion.Man will pay $219 mln in cash at completion of acquisition to acquire Numeric.Consideration payable on completion will be funded from Man's existing cash resources.Numeric is to be acquired debt-free, with $3 mln of excess net assets.Initial consideration payable at completion will be subject to an adjustment in respect of actual net working capital position of Numeric at completion.  Full Article

Man Group plc announces the completion of spin out of Man Investments Canada Corp. to management
Wednesday, 11 Jun 2014 09:15am EDT 

Man Group plc:Completes previously announced transaction in respect of the spin out Man's wholly-owned subsidiary, Man Investments Canada Corp (MICC) to Management.Transaction will allow Man to focus on its institutional business in Canada.MICC has changed its name and will now conduct business in Canada as Next Edge Capital Corp.  Full Article

Man Group PLC to Acquire Pine Grove
Monday, 9 Jun 2014 02:00am EDT 

Man Group PLC:Says it has agreed to acquire Pine Grove Asset Management LLC, a US-based fund of hedge fund manager specializing in the management of credit-focused hedge fund portfolios.Closing is expected to close in the Q3 2014.Financial terms of the transaction were not disclosed.  Full Article

Man Group PLC announces share repurchase programme
Thursday, 6 Mar 2014 02:00am EST 

Man Group PLC:Enters into arrangement with Goldman Sachs International to repurchase on its behalf shares in the company, up to a maximum consideration of $115 million during the period from March 6 up to and including Dec. 19.  Full Article

Man Group PLC announces spin out of Man Investments Canada Corp
Monday, 3 Mar 2014 04:31pm EST 

Man Group PLC (Man) and the management of Man Investments Canada Corp(MICC):Enters into a mutual agreement for Man to spin out its wholly-owned subsidiary, MICC to Management. The transaction, which is subject to regulatory approval, is expected to close in the second calendar quarter of 2014.Proposed transaction will allow Man to focus on its institutional business in Canada.  Full Article

Man Group PLC's board proposes to pay final dividend
Thursday, 27 Feb 2014 02:00am EST 

Man Group PLC:Proposes to pay final dividend of 5.3 cents per share bringing total dividend for the year to 7.9 cents.  Full Article

Man Group steps up U.S. presence with Silvermine deal

- Man Group plans to buy U.S. fund manager Silvermine Capital for up to $70 million, picking up $3.8 billion of assets under management to further strengthen its presence in the United States.

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