(Adds ZKB statement in paragraph 4) April 22 (Reuters) - Swiss lender Zuercher Kantonalbank, known locally as ZKB, has held takeover talks with GAM Holding AG, the Financial Times reported on Saturday, citing people familiar with the matter. ZKB is one of several companies considering a purchase of Zurich-headquartered asset manager GAM, the newspaper said. London-listed Liontrust Asset Management said earlier this week it was discussing a potential merger of its investment management unit with GAM. In an emailed statement, ZKB declined to comment on whether takeover talks had taken place with GAM, but said the company was "constantly examining opportunities within its business development strategy". GAM, which has lost over 95% of its value following a bond fund scandal in 2018, is now looking for a buyer. It has delayed its 2022 results presentation until April 25 to give it more time to prepare an update on a strategic review, which it is due to give on the same day. According to the Financial Times report, Z Capital Group, a New York-based investment firm, is also interested in buying GAM. GAM and Z Capital did not immediately respond to requests for comment. (Reporting by Gokul Pisharody in Bengaluru Editing by Helen Popper and Jason Neely)
UPDATE 1-Swiss lender ZKB held takeover talks with GAM Holding - FT
You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more
Start Your Free Trial Now!Download Free Report – Explore 3 Stock Ideas & Industry Insights
Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.
All investments involve risk—consider independent advice before making any investment decisions.
View 3 Research ReportsThis information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on ‘as is’ basis, using their API. The information and data provided on this page, as well as via the API, are not guaranteed to be real-time or accurate. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general informational purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine does not assume any responsibility for any trading losses you might incur as a result of using this information, data, or any analyst rating or recommendation provided. Kalkine will not accept any liability for any loss or damage resulting from reliance on the information, including but not limited to data, quotes, charts, analyst ratings, recommendations, and buy/sell signals sourced via the API.
Please be fully informed about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment. Kalkine does not provide any warranties regarding the information on this page, including, without limitation, warranties of merchantability or fitness for a particular purpose or use.
Please wait processing your request...