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British asset manager skyrockets after announcing plans to buy competitor

British asset manager Jupiter Fund Management is buying its rival.

Photo: Alastair Grant/AP/Ritzau Scanpix

Jupiter Fund Management skyrocketed on the shared European Stoxx 600 index market on Monday, after news broke that the British asset manager is purchasing competitor Merian Global Investors.

Jupiter will start by paying EUR 444 million (GBP 370 million) to buy its British rival.

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