Gartmore locked in Henderson talks

The troubled fund management group Gartmore is in talks with rival Henderson regarding a possible takeover deal that could be announced as early as this week.

The two firms are in negotiations over a potential £344m transaction, with the US investment bank Goldman Sachs advising Gartmore,which was put up for sale after several mishaps, most notably the departure of star manager Roger Guy.

Recent speculation has pointed to the possibility of a cash-and-stock offer from Henderson valuing Gartmore's shares, which were priced at 220p at the time of its IPO in late 2009, at 95p apiece. Gartmore declined to comment.

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