The second largest shareholder in British fund firm F&C Asset Management, which has agreed a takeover offer from Bank of Montreal, has said it may support a rival bid if one emerges. In a statement on Tuesday after Bank of Montreal and F&C announced a deal valuing the fund manager at around 708 million pounds ($1.2 billion), Standard Life Investments said the price "represents an attractive valuation from the standpoint of the Canadian bank.""We intend to keep our options open should another suitor for F&C emerge," said David Cumming, Global Head of Equities at Standard Life Investments, which holds more than 10.2 percent of F&C.The only other investor with a larger stake, Aviva Investors favours the deal, F&C said when it announced the deal.
Bank of Montreal (BMO Financial Group) is a diversified financial services provider that provides a range of retail banking, wealth management and investment banking products and services. Shares of BMO fell by 2.33% or $-1.51/share to $63.37. In the past year, the shares have traded as low as $55.61 and as high as $71.26. On average, 355297 shares of BMO exchange hands on a given day and today's volume is recorded at 654002.
Shares of BMO fell by 2.14% or $-1.54/share to $70.46. In the past year, the shares have traded as low as $58.68 and as high as $74.69. On average, 1362540 shares of BMO.TO exchange hands on a given day and today's volume is recorded at 2574758.
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