LONDON, Jan 10 (Reuters) - British investment firm Schroders has made an offer to buy troubled fund manager New Star Asset Management, the Sunday Telegraph said in an unsourced report.
Schroders has submitted a bid worth more than 100 million pounds ($150 million), the paper said.
It said rivals Neptune Investment Management, Henderson and an unnamed private equity firm were also believed to have made indicative proposals prior to a deadline last week.
Other potential bidders include Aberdeen Asset Management and private equity group Hellman & Friedman, the paper said.
New Star agreed a debt for equity swap with banks in December, under which a syndicate owed about 240 million pounds will end up owning some 75 percent of the firm.
(Reporting by Tim Castle) ($1=.6595 Pound) Keywords: NEWSTAR/ (tim.castle@reuters.com; +44 207 542 7947; Reuters Messaging: tim.castle.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Schroders has submitted a bid worth more than 100 million pounds ($150 million), the paper said.
It said rivals Neptune Investment Management, Henderson and an unnamed private equity firm were also believed to have made indicative proposals prior to a deadline last week.
Other potential bidders include Aberdeen Asset Management and private equity group Hellman & Friedman, the paper said.
New Star agreed a debt for equity swap with banks in December, under which a syndicate owed about 240 million pounds will end up owning some 75 percent of the firm.
(Reporting by Tim Castle) ($1=.6595 Pound) Keywords: NEWSTAR/ (tim.castle@reuters.com; +44 207 542 7947; Reuters Messaging: tim.castle.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.