Jupiter acquires Merian Global Investors for £390m

Updated: UK-based fund house Jupiter Fund Management has acquired Merian Global Investors in a deal worth £390m. The combined group will have £66.5bn in AuM.  Jupiter will pay £370m in equity through the issue of 95m new shares, with a deferred sum of £20m subject to Merian meeting specific targets. Once the deal is approved, Merian shareholders will own 17% of Jupiter's enlarged share capital.  Andrew Formica, Jupiter CEO said: "This is an exciting acquisition that enhances our position as a leading UK asset manager, provides increased scale and diversification into attractive pro...