WSJ – Man Group PLC said Thursday it has entered “a period of significant opportunity” in its business, adding that it has high expectations that its planned $1.6 billion acquisition of GLG Partners Inc. will help lift assets and market share.
For the year ended March 31, the hedge-fund giant posted a net profit of $445 million, down 12% from $503 million a year earlier. Pretax profit fell to $541 million from $743 million, but was better than the company’s March estimate for pretax profit of $530 million.
