(RTTNews) - Investment management services provider Henderson Group plc (HGG.L) Monday confirmed that it is in discussions with regard to a potential acquisition of certain businesses of privately-held US asset manager RidgeWorth Capital Management Inc., owned by American banking company SunTrust Banks Inc. (STI).
Henderson, responding to media speculations, said it considers a range of strategic opportunities from time to time, and that the discussions with SunTrust regarding a possible transaction are ongoing. The company also added that there is no certainty that any transaction in connection with RidgeWorth Capital would proceed.
Earlier this month, US trade journal Pensions & Investments reported that Henderson is the leading bidder for the bulk of SunTrust Bank's money management arm RidgeWorth Capital.
Atlanta-based RidgeWorth Capital is a holding company with eight underlying money management boutiques, which oversee combined client assets of about $65 billion. Reports noted that RidgeWorth Capital's non-money market asset is worth around $36 billion. According to media reports, Henderson is not likely to acquire RidgeWorth Capital's Atlanta-based stable value and money market boutique StableRiver Capital Management LLC, which has over $28.2 billion in client assets.
HGG is currently trading on the London Stock Exchange at 148.70 pence per share, up 2.40 pence or 1.64%, on a volume of 289,779 shares. In the past 52-week period, the stock has been trading in a range of 76.75 pence to 148.80 pence.
In Friday's regular trading session, STI closed trading at $28.65 per share on the New York Stock Exchange. In the past 52-week period, the stock has been trading in a range of $12.76 to $29.41.
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