Macquarie considers rival bid for Lloyds' asset management division
A report in the Wall Street Journal says Macquarie has renewed its interest in the Scottish Widows asset management business, and could edge out a rival offer from Britain's Aberdeen Asset Management.
A spokeswoman for Macquarie declined to comment on Friday.
If successful, Macquarie will add Scottish Widows to its Macquarie Funds Group, which manages about $381 billion and is best known for its infrastructure and fixed-income funds.
Macquarie runs several equity funds in Australia and the US but has limited exposure to European stocks.
During a presentation in February, it said the unit had "capital for expansion".
Aberdeen said last month it was in talks to buy Scottish Widows Investment Partnership (SWIP) from Lloyds. Lloyds is expected to make a decision on the sale by November 22.
with wires
Frequently Asked Questions about this Article…
Macquarie Group is considering an $850 million all-cash offer for the funds management arm of Lloyds Banking Group, specifically targeting the Scottish Widows asset management business.
Macquarie Group is considering an $850 million all-cash offer for the funds management arm of Lloyds Banking Group, specifically targeting the Scottish Widows asset management business.
Aberdeen Asset Management, a British company, is also in talks to acquire Scottish Widows Investment Partnership from Lloyds.
Besides Macquarie Group, Britain's Aberdeen Asset Management is also in talks to acquire Scottish Widows Investment Partnership (SWIP) from Lloyds.
If successful, the acquisition would allow Macquarie to add Scottish Widows to its Macquarie Funds Group, which is known for managing infrastructure and fixed-income funds.
If successful, the acquisition would add Scottish Widows to Macquarie's Funds Group, which is known for managing infrastructure and fixed-income funds, and would expand Macquarie's limited exposure to European stocks.
Macquarie Funds Group currently manages about $381 billion, focusing primarily on infrastructure and fixed-income funds.
Macquarie Funds Group currently manages about $381 billion, with a strong focus on infrastructure and fixed-income funds.
No, Macquarie runs several equity funds in Australia and the US but has limited exposure to European stocks.
Lloyds is expected to make a decision on the sale of Scottish Widows by November 22.
During a presentation in February, Macquarie mentioned that its unit had 'capital for expansion,' indicating readiness for growth opportunities.
A spokeswoman for Macquarie declined to comment on the potential bid for Scottish Widows.
Lloyds is expected to make a decision on the sale of Scottish Widows Investment Partnership by November 22.
Macquarie currently has limited exposure to European stocks, which could change if they successfully acquire Scottish Widows.
A spokeswoman for Macquarie declined to comment on the potential acquisition of Scottish Widows.
During a presentation in February, Macquarie indicated that its unit had 'capital for expansion,' suggesting readiness for growth opportunities like the acquisition of Scottish Widows.
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