BUSINESS LIVE: Premier Miton and Asset co weigh R&M bids

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BUSINESS LIVE: FTSE 100 rebounds; Pound retreats from 21-month high against euro; Premier Miton and Asset co weigh R&M bids; AO World warns of product shortages

By Mike Sheen For This Is Money

Published: | Updated:


London-listed asset manager River & Mercantile has confirmed reports of an approach from rival firm Premier Miton, which would create a group with close to £20billion in assets under management.

In what would be the latest example of consolidation in a sector rife with M&A activity, R&M revealed this morning that City veteran Martin Gilbert’s AssetCo has also made an approach. 

The pound has slipped back after hitting a 21-month high against the euro yesterday as the threat of coronavirus lockdowns on the Continent hit the single currency.

Sterling was down 0.4 per cent against the euro at €1.187 at lunchtime on Tuesday, although it remains close to yesterday’s pandemic high of €1.1929 – a level not seen since February 2020. 

Yesterday, Jerome Powell was nominated to serve a second term as chairman of the US Federal Reserve – arguably the most powerful economic job in the world. 

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The threat of coronavirus lockdowns on the Continent has weakened the single currency

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