AstraZeneca Plc got a boost from a long-time shareholder and one of its biggest institutional stockholders after other investors criticized the drugmaker for spurning Pfizer Inc.’s 69-billion-pound ($117 billion) takeover offer.
Gartmore Group Ltd., the U.K. money manager that first sold shares in December, fell the most in seven months in London after the firm said it’s weighing a sale or merger, and fund manager Roger Guy said he will retire.
Xstrata Plc investors say a potential 250 million-pound ($385 million) payout to 73 managers and executives of the mining company after its takeover by Glencore International Plc is “insensitive” and “unacceptable.”
Gartmore Group Ltd. , the U.K. fund manager founded by the Cayzer shipping dynasty, has been sold five times over the past 20 years. Its sixth sale, being run by Goldman Sachs Group Inc., will take place without its biggest asset and liability -- star fund manager Roger Guy .
Barclays Plc saved itself 25.5 million pounds ($40 million) in fines by moving first to settle a probe over the rigging of global interest rates. In return, it has lost three top executives, $5 billion of market value and sparked a government inquiry.
Roger Guy and Guillaume Rambourg , Gartmore Group Ltd. ’s two star managers, won European fund of the year at a black-tie gala at London’s Grosvenor House Hotel on Jan. 21. Ten months later, both have quit and the company is considering putting itself up for sale.
Investors withdrew $1.2 billion from global funds in the week to Dec. 7, the fifth consecutive week of net sales, while money flowed into emerging-market funds for the first time in four weeks, Citigroup Inc. said, citing data from fund researcher EPFR Global.