legal & gen group -spon adr (LGGNY) Key Developments
L&G Decides Not To Sell Cofunds As AJ Bell Talks End
Sep 24 15
Legal & General Group Plc (LSE:LGEN) has decided not to sell Cofunds Limited after talks with A J Bell Holdings Limited have fallen through. In June New Model Adviser revealed that L&G had put Cofunds up for sale and in August reported that AJ Bell and platform technology provider FNZ (UK) Ltd. were in talks separately to buy the platform. A source familiar with the situation said L&G was not willing to accept AJ Bell's offer. 'The decision to pull out of the deal was one-sided. The offer price wasn't satisfactory. It was significantly below the price the L&G board was willing to accept. AJ Bell, Cofunds and L&G declined to comment.
Legal & General's Kingswood Staff Vote for Strike Action over Job Cuts
Sep 21 15
Staff at Legal & General's Kingswood site in Surrey have voted in favour of strike action after 1,700 jobs were put at risk following the company's decision to vacate the site by 2017. According to union Unite, 68% of its members in Kingswood took part in the vote with 63% voting in support of taking industrial action. In response, L&G has promised to provide new information about the possible relocation of staff to sites in Hove, Cardiff or London.
A J Bell Reportedly In Talks To Acquire Cofunds' Retail Arm
Sep 21 15
A J Bell Holdings Limited is holding exclusive negotiations to acquire Cofunds Limited's retail arm from Legal & General Group Plc (LSE:LGEN). According to a Money Marketing report, one of the options being considered is L&G acquiring shares in AJ Bell following the sale. However, there is no clarity whether AJ Bell would agree to pursue this option, the publication added.
Legal & General Group Plc Presents at Barclays Global Financial Services Conference, Sep-17-2015 03:30 PM
Sep 2 15
Legal & General Group Plc Presents at Barclays Global Financial Services Conference, Sep-17-2015 03:30 PM. Venue: New York Hilton Midtown, 1335 Avenue of Americas, New York, New York, United States. Speakers: Mark J. Gregory, Group Chief Financial Officer and Executive Director.
A J Bell And FNZ Reportedly In Talks To Acquire Cofunds
Aug 28 15
A J Bell Holdings Limited and FNZ (UK) Ltd have separately held discussions with Legal & General Group Plc (LSE:LGEN) (L&G) regarding the acquisition of Cofunds Limited, New Model Adviser reported. In June 2015, New Model Adviser had reported that L&G had put Cofunds up for sale and Fenchurch Advisory Services was handling the sale. It is understood L&G has recently held talks with two interested parties, AJ Bell and the other is FNZ, which is being backed by a private equity firm. A source familiar with the situation said FNZ would be more interested in Cofunds' institutional business. “AJ Bell will be interested in the retail business,” they said.