F&C backs takeover to ‘accelerate ambitions’

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THE manager of the world’s oldest investment fund has agreed to a £708m takeover by Canada’s Bank of Montreal.

F&C Asset Management, which traces it roots back to
the formation of Foreign & Colonial Government Trust in
 1868, said the deal provided a “unique opportunity to 
broaden and accelerate our ambitions”.

The acquisition brings together two firms with long-standing histories.

Joe Garner, Nationwide's chief executive

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