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Fly News Breaks for May 25, 2016
BEN, OMAM, AMG
May 25, 2016 | 07:45 EDT
After Financial Times reported that Affiliated Managers Group (AMG) may be a potential bidder for Old Mutual's 66% stake in OM Asset Management (OMAM), Citi analyst William Katz says a deal would be good for both AMG and OMAM shares. For AMG, the deal would diversify its platform and be accretive, and for OMAM the deal would remove the "parental overhang" and unlock "deep intrinsic value," Katz tells investors in a research note. He believes a bid from other parties could emerge, and views Franklin Resources (BEN) as a "natural alternative."
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