Newly floated so I have been watching this one. It did not need to raise cash and the company has performed well for its investors but the shares fell soon after the float. now they are rising again I'm tempted--anyone else bought some??

I did pick up a few and they are performing well so I intend to hold on. The fund managers are making money by the bucket load and their bonus payments are enormous--if they are performing this well the shares should eventually take off! IMO.

Here are the forecasts for the next couple of years:

http://fool.digitallook.com/?action=forecasts&ticker=nsam

Forecast eps is 17.56p for the y/e Dec. 2006 so you are looking at a prospective PE of 19 on a 12 month view.

There is no room for error.

Additionally the fund managers have gone out of their way to promote themsleves with huge posters all over London. They better live up to all the hype.

Thanks Ianayel-I'll be cautious. I do think New Star is a class act on past performance but their fees are high! interesting that only one analyst is covering them seems the sp won't rocket until interest increases and they keep up the good results. cheers MP

surprised there is so little interest in this one--it is performing so well without any announcements, steady rise every day apart from one dip. It's a great team in charge-I'm happy to hold.

chart is looking good-results on the 31st. anyone know how the sp compares with the competition-man group for instance is much higher.

nice rise today I'm planning on holding this one long term. still no interest here!

Moneyplus.

Check out the board for this on ADVFN . Good Luck!

cheers.

lucky-thanks for the post. Looks as though New Star might get taken over then seems I'd better hold tight for the action!!

Moneyplus,

As you can see there is a good deal of interest in this one. I have them down as a long term hold but if they get taken over so be it. In a rising market I believe they will be making a lot of extra money and this should show up as profit very quickly. You did well to pick up on it early on and I am a relative newcomer. That said I have held units in New Star's Global Financials for some time and these are also doing well. Long may it continue !!!!!

I'm impressed they got no2 position in under 2 years. good luck to you too.

What now is the outlook for NSAM after falling from about 520 to 190 in the past 6 months?I do know they have been hit hard because of their exposure to sub prime through their property fund,but is it really not now in the overdone category?
They certainly have fallen out of bed!! Any comments

It really depends on investor confidence. If investors start to withdraw their funds en masse then you may end up with a situation like NRK but without the prospect of a government bail out.

Starting to look good.Time to get on board!

This is the Death Star.

Not if you bought in at 1.6 p on the 9th Last Tuesday),now up over 100%,and 76% today.
Anybody into what is happening here and if it is worth a punt!

More than 10 bids expected this week according to the FT on 26th Dec. Imo price will be anywhere between 6-8p at some point this week. Jason Streets at Evolution Securities had quoted a figure of 8p in mid-December. Blue Planet will consider any offers but they quoted a minimum price of 20p as a very conservative valuation. With their 6.7% stake they can round a few shareholders to ensure the highest possible price is offered.

New Star attracts potential bidders
By Kate Burgess

Published: December 27 2008 02:00 | Last updated: December 27 2008 02:00

More than 10 potential bidders have expressed interest in New Star, the troubled fund management group that this month agreed a debt-for-equity swap with its banks. The banks, a consortium of HBOS, Lloyds TSB, HSBC, Royal Bank of Scotland and National Australia Bank, which put the group up for sale this month, hope to receive bids by the first week in January.

A speedy sale will help to end uncertainty among clients about the future of the management group and stop more redemptions from New Star funds.

The group, which managed more than 20bn six months ago, now has just more than 12bn under management.

A number of rival fund managers are thought to be looking over the business, among them Henderson, Gartmore and Neptune Investment Management.

People close to the banks have sought to counter speculation of a management buy-out by New Star managers of institutional funds or a piecemeal sale of fund management contracts.

They say the bank consortium is hoping for a quick disposal of the whole group rather than looking to break up the group.

New Star, which was founded by John Duffield in 2000 after he left Jupiter, a rival fund manager, established itself quickly as one of the best known fund management names on the high street.

However, it put itself into the hands of its banks this month after a sudden drop in confidence and a sharp rise in redemptions by clients following the downturn in the property market, turmoil on stock markets and poor performance by some of its star fund managers.

The group's market capitalisation, which was estimated at more than 1bn 18 months ago, has decreased to just 5m.

The shares have fallen steadily over the year but they went into a tailspin this month when New Star suspended trading in its flagship European Property fund and fears escalated that the fall in assets meant that the group was coming up against its banking covenants.

The banks agreed to write down their 260m of debt, swapping it for a mix of 94m in preference shares and three-quarters of the group's ordinary shares. Plans to delist the group by the end of January continue, but by then the banks hope to have signed a deal to dispose of the business for no more than 115m.

UBS has been appointed by the banks to advise on the sale of New Star. New Star and UBS declined to comment.

http://www.ft.com/cms/s/0/6c55fcb2-d3b8-11dd-989e-000077b07658.html

At what price for any offer would Blue Planet find it acceptable?

“We support the management’s restructuring proposal, which we believe will add value in the next 12 to 24 months, but if an offer is made in the meantime, we will consider it.”

http://www.dealmakerdaily.co.uk/news/item/27335.html

‘Even on most conservative basis, the think the minimum current value of New Star is around 20p per share but more realistically between 40-50p – plus it has the ability to shed costs.’

http://www.citywire.co.uk/Professional/-/news/investment-trusts/content.aspx?ID=323598&Page=1

DEALTALK-Quickfire New Star buy could bag a bargain

By Laurence Fletcher and Joel Dimmock
LONDON, Dec 10 (Reuters) - New Star Asset Management could find a buyer for
its business even before its investors vote on a debt-for-equity swap that will
see its banks take hold of the troubled fund manager.
Investors may find themselves asked to support a takeover thrashed out
over the Christmas break at a January shareholder meeting, sources close to New
Star said.
A deal may value the group at around 200 million pounds ($297.5 million),
or about 8 pence per share, said Jason Streets at Evolution Securities.
New Star's founder and Chief Executive John Duffield, a well-known figure
in London financial circles, is set to walk away once there is a deal with
creditor banks, according to a source close to the firm.
New Star, which took on debt last year to fund a payout to shareholders,
agreed a debt for equity swap with banks this month, whereby a syndicate owed
about 240 million pounds will end up owning some 75 percent of New Star.
On Tuesday, the company said it had received a number of expressions of
interest from others and that it might put itself up for sale or consider other
options for its future. UBS is advising the company.
Aberdeen Asset Management and unlisted Neptune Investment Management are
possible buyers. But Jupiter, another fund firm set up by Duffield, is not
looking at a bid for New Star, a source close to the company told Reuters.
Evolution's Streets said New Star could be worth 200 million pounds --
150 million for the UK mutual funds and 50 million for the hedge fund and
institutional arm.
New Star's shares have slumped from nearly 500 pence last May to about 2
pence on Friday. And on Thursday they temporarily suspended dealings in its 29
million pound Heart of Africa fund.
"The banks probably want to dispose of it as soon as they can and get
their cash back," said Gurjit Kambo at Numis.
New Star still has respectable assets under management of 13.9 billion
pounds, despite recent outflows.
Fund firms may sell for more than 5 percent of assets under management at
the top of the equity markets, but bear markets can throw up real bargains.
Insight Investment bought Rothschild Asset Management in December 2002,
near the trough of the last bear market, for a mere 0.6 percent of assets -- a
move that later looked shrewd given the upturn in markets in March 2003.
Aberdeen, which in January sounded wary of big acquisitions, has altered
its tone as market conditions have changed and would not rule itself out of the
running for New Star.
"In this market environment we view Aberdeen as a consolidator rather
than being consolidated," a spokesman said.
Neptune has indicated its interest in part or all of New Star, although
with a war chest of just 10 million pounds it may only be in a position to take
part of the assets.
A management buyout may be unlikely given limited access to debt in
current markets and the lack of synergies in any management-backed deal.

Massive buy and massive premium on this buy, just come through on PLUS:-

05/01/2009 08:23:37 3.50 289,944 O 10,139.30

http://www.plusmarketsgroup.com/data.shtml?ISIN=GB00B1VJF742/GBX/PLUS-exn

Someone has just bought 289K shares at 3.50p??? 1p premium!

Hmmm volume only showing 87k @8:29

On PLUS:-962K in volume

http://www.plusmarketsgroup.com/data.shtml?ISIN=GB00B1VJF742/GBX/PLUS-exn

Looking v.good courtesy of the v.large buy at 3.50p earlier and strong buying volume reported on PLUS.

In Auction at 2.80p.

sounds ok to me ,so i bought in at 2.77

2.48m Volume on PLUS and 958K on LSE already. Large volume possibly because of Aberdeen Asset confirming their wish to vacuum up in the sector even after the Credit Suisse buy. There were some interesting comments from Mr Gilbert in the Times snippet on Saturday.

From The Times
January 1, 2009

Aberdeen comes out from under a cloud

'In a sector that is expected to consolidate rapidly this year, Mr Gilbert says Aberdeen stands ready to make further acquisitions'.

'Mr Gilbert may even salvage something out of the mess at New Star Asset Management, John Duffield's stricken manager'.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5426090.ece

Aberdeen still possibly interested in New Star even after Credit Suisse acquisition:-

He declined to be drawn on any specific targets, but Aberdeen is thought to remain interested in New Star, the struggling manager being sold by UBS on behalf of a five-strong bank syndicate that took control this month. New Star, which would give Aberdeen about £12billion of additional funds, including retail investments to manage, is expected to fetch a maximum of £115million. “The only thing we won't take on is debt,” Mr Gilbert said.

http://business.timesonline.co.uk/tol/business/movers_and_shakers/article5425507.ece

All buys being reported on PLUS and sizeable buys of 100K + 150K blocks of which many reported.

I said it was coming....1.75 million BUY at 2.61p just put through by DUET

Potential Bidders:-

'In such circumstances potential bidders will I think start to be attracted to the firm, leading potentially to a sale in short order. Aberdeen chief executive Martin Gilbert ruled out a wholesale purchase this week of New Star but only because of its debt, with this resolved he may well be interested again. Simliarly Hendersons could spot an opportunity. Citywire also revealed yesterday that Neptune Investment Management is actively looking at acquiring some of the funds and assets. I would personally not rule out a purchase by other protagonists in financial services M&A. Resolution boss Clive Cowdery is on the hunt for assets again and his old adversary Hugh Osmond has access to plenty of capital at Pearl to boost his presence in the retail fund management arena'.

http://www.citywire.co.uk/adviser/-/blogs/investment-solutions/content.aspx?ID=322843

Marlborough buys main stake in Apollo

Story by: Nick Rice Magazine:

InvestmentAdviser Published Monday , January 05, 2009

Marlborough revealed it has bought a controlling stake in Guernsey-based Apollo Investment Management as the asset management industry moves further towards greater consolidation.

The investment house confirmed its decision in the week GLG Partners bought SociGale Asset Management UK. Bidders are also circling New Star Asset Management.

http://ftadviser.com/InvestmentAdviser/Investments/News/article/20090105/555defc4-d04d-11dd-ad95-00144f2af8e8/Marlborough-buys-main-stake-in-Apollo.jsp

"Bidders are also circling New Star Asset Management"

Sector also seems to be heavily in focus now which will hopefully result in the highest price possible for any offer on New Star.

Wasn't aware of this but Aberdeen were prepared to pay a substantial premium back in March 2008...if as quoted there are more than 10 bidders for New Star now, Abderdeen may snuff them out by going much higher again than the quoted bid figure of 8p.

Contributed by: Martinas B.
Date: 19 Mar, 2008
It was supposed to be the AIM-traded company. Nevertheless, today our attention has New Star Asset Management, which is actually traded on FTSE. Let's see what we've got here...

Three days ago funds firm New Star Asset Management has rejected a takeover bid from money manager Aberdeen Asset Management.

According to the Mail on Sunday newspaper's report, Aberdeen offered 200p per share for New Star, valuing the fund manager at around 470 million pounds.

That's a substantial premium to the closing share price of today's trading price - 85.00p.

Other groups thought to be interested in New Star include private equity groups Candover, JC Flowers and Hellman & Friedman, which already owns rival investment group Gartmore and could achieve cost savings from merging the two, the paper said.

http://uk.hotstocked.com/article/0563/is-new-star-asset-management-nsam-l-still-shining.html

1 million Vol. on PLUS and 100K blocks buys continuing to come through on PLUS after the numerous ones yesterday.

http://www.plusmarketsgroup.com/data.shtml?ISIN=GB00B1VJF742/GBX/PLUS-exn

Someone just posted this on iii:-

'with the 260m debt swopped for equity there are 1000m shares issued. NSAM is still a premium brand and worth say 1.5% of FUM of 14bn = 210m, less 95m pref shares = 115m or 11.5 pence per share'.

From iii: in response to earlier post from there.

We've done some similar calculations and are looking for 11p to 15.5p.....
Not long to wait now!!

I had a target of 6-8p for any bid, calcs. on iii suggests anywhere from 10-18.5p.

2% FUM = 18.5p on same basis.

Another very large buy for 1.46 million shares at 2.57p. Going with the 1.75 million buy at 2.61p yesterday.

A deadline of 12 January was muted a few weeks ago:-

New Star bankers hoping for bids by 12 January
By Charlie Parker | 14:06:26 | 17 December 2008

http://www.citywire.co.uk/adviser/-/blogs/investment-solutions/content.aspx?ID=324242

Just working this out:-

DEALTALK-Quickfire New Star buy could bag a bargain

By Laurence Fletcher and Joel Dimmock
LONDON, Dec 10 (Reuters) - New Star Asset Management could find a buyer for its business even before its investors vote on a debt-for-equity swap that will see its banks take hold of the troubled fund manager.
Investors may find themselves asked to support a takeover thrashed out
over the Christmas break at a January shareholder meeting, sources close to New
Star said.
A deal may value the group at around 200 million pounds ($297.5 million),
or about 8 pence per share, said Jason Streets at Evolution Securities.

Just found the below....would this mean any offer then would be well north of the above quoted 8p??? Only got this range of 8-20p at the moment, the 20p being quoted by Blue Planet.

It has also said that it has received approaches that could be considered as alternatives to the debt-for-equity swap agreed with its creditors last week.

'A sale of the business has been considered inevitable since it announced last week that it was to hand 75% of its share capital to a syndicate of banks in exchange for writing off 240 million of debt. However, it had been thought likely that a sale would only be possible once the restructuring was in place'.

'The announcement today appears to imply offers have been made which could see it sold before the debt was converted into equity. Such a move would please New Star executive chairman John Duffield (pictured) and the firm's fund manager shareholders who were seeing their shareholding virtually wiped out by the deal'.

http://www.citywire.co.uk/adviser/-/news/market-and-shares/content.aspx?ID=323439

Consolidation over and price breaking out with further gains. 2.68-2.94p.

New Star to benefit from FSA changes to fund suspension rules
By Drazen Jorgic | 09:00:00 | 07 January 2009



New Star Asset Management is set to benefit from changes to FSA rules which will allow firms to suspend dealings in funds for indefinite periods.

Under the old rules, any fund manager which suspended dealing in its fund had within 28 days to re-open it, or speak to the FSA about an extension.

From Tuesday this rule no longer applied, meaning the fund manager could technically suspend the fund indefinitely.

In practice the fund managers will have within 28 days to review the suspension and then report back to the FSA.

The FSA amended the rules because it deemed the 28-day requirement to be detrimental to the fund managers efforts to liquidate the assets at a reasonable value within this time limit.

During 2008 several funds, primarily those in the property sector, imposed temporary suspensions, many of which were given extensions. New Star's International Property fund, for example, was suspended on November 25 and is still closed for dealing.

Another New Star fund, Jamie Allsopps Heart of Africa, was nearing its 28-day deadline after it suspended dealings on December 11 but will now not be under any pressure to re-open this week.

New Star said it plans to re-open Allsopps (pictured above) fund but is unable to do so while the Sub-Saharan market remains illiquid.

A spokesperson for the FSA commented: 'We reviewed this requirement and concluded that there was no benefit to unit holders in imposing an arbitrary 28-day limit on the duration of any period of suspension, as this does not prevent the AFM (Authorised Fund Manager) immediately beginning another period of suspension if it is in the best interests of unitholders.'

Unit holder interests can be adequately protected by permitting an indefinite period of suspension, provided the reason for the suspension is regularly reviewed.

http://www.citywire.co.uk/professional/-/news/fund-news/content.aspx?ID=325304&Page=1

Good news....every little helps driving the price up and make the company even more appealing to Bidders and interested parties.

I have seen some talk that they could have been a MBO on parts of the business but the banks will make sure the group is sold as a whole. I get minimum 8p with restructuring or without restructuring though Blue Planet value the business in its current state at 20p and very conservatively too. They will consider any offers and they also have to vote Yes to any deal. Or they argue if offers do not materialise then the shares will be delisted at the end of January and will come back to the market in 12 months time at 50p. WIN-WIN situation imo. I think Aberdeen and Pearl (have got a big cash pile and would integrate nicely) are favourites and will buy the company in the coming days at minimum 8p but if there is battle between them then could easily get 10-12p.

I think today's Citywire article is very positive for the company and to the interested parties as it removes uncertainty over some of the funds.

Spurting up again, 2.58-2.60p.

Picked up a few more at 2.60p. Consolidation phase at these levels should be over soon with Bids muted to be in by next Monday.

Possibly breakout today, 75,000 buy has come through at a premium, 2.75p.

Very big premium at 3.35p for a small buy on PLUS just now:-

09/01/2009 08:19:10 3.35 44,296 O 1,482.59

http://www.plusmarketsgroup.com/data.shtml?ISIN=GB00B1VJF742/GBX/PLUS-exn

In auction at 3p now and breaking out.

Unless some news is coming or DUET's large buyer wants more for the surge, after the premium buy at 3.35p on PLUS, no further buys yet for this surge.

3.90p for a buy just now on PLUS:- a massive premium.

09/01/2009 08:58:46 3.90 75,786 O 2,955.65

Question?
Why would anybody want to buy on Plus Markets at 3.90,when the price is a penny less on AIM?

Thats the market makers charging more to buy or they would have paid 3p if they could get that much stock at that price....imo a good sign and a large buyer has been around. They haven't bought on PLUS markets but the trade has been put through on it rather than on the LSE.

Jan 10 (Reuters) - British investment firm Schroders has made an offer to buy troubled fund manager New Star Asset Management, the Sunday Telegraph said in an unsourced report.

Schroders has submitted a bid worth more than 100 million pounds ($150 million), the paper said.

It said rivals Neptune Investment Management, Henderson and an unnamed private equity firm were also believed to have made indicative proposals prior to a deadline last week.

Other potential bidders include Aberdeen Asset Management and private equity group Hellman & Friedman, the paper said.

New Star agreed a debt for equity swap with banks in December, under which a syndicate owed about 240 million pounds will end up owning some 75 percent of the firm.

http://www.dailymail.co.uk/money/article-1111559/New-Star-sees-swift-submission-initial-bids.html

Seems like there are rival bidders - could get interesting...

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4214585/Schroders-tables-bid-for-ailing-New-Star.html

Looks like Schroders are there first.

New Star bid by Schroders

SCHRODERS has emerged as one of the bidders for New Star Asset Management, the troubled fund manager run by City veteran John Duffield, with a bid thought to be worth more than 100m.

Henderson, Gartmore and Aberdeen Asset Management are also in the running after tabling first round bids last week.

New Star was put up for sale late last year after its lending banks, led by HBOS, seized control.

http://business.timesonline.co.uk/tol/business/article5488941.ece

Excellent press mentions as expected and a bidding war should emerge. IMO should see the price get upto 5-6 pence minimum tomorrow.

Someone's posted this on iii:-

'The re financing deal has not yet been approved by share holders
If someone offered 100m before refinancing then this would be 38p per share after debt this would equate to 1.6% of FUM.
Surley there are others who agree with Gilberts view that NSAM are a "very good business"'.

Schroders among the suitors for New Star
By Andrea Felsted and Kate Burgess

Published: January 11 2009 18:54 | Last updated: January 11 2009 18:54

About 10 potential buyers, including Schroders, have submitted first-round proposals for New Star, the struggling fund management group.

Other parties that have submitted indicative proposals for the asset manager, which in December agreed a debt-for-equity swap with its banks, include Henderson, Gartmore and Neptune Investment Management. Aberdeen Asset Management has taken an opportunistic interest after its 200m share-based acquisition of Credit Suisses traditional fund management business.

People familiar with the situation said the price tag being put on New Star was substantially above 100m, although some other observers were sceptical that this level would be achieved.

New Stars banks, a consortium of HBOS, Lloyds TSB, HSBC, Royal Bank of Scotland and National Australia Bank, put New Star up for sale in December.

First-round bids were due to be submitted in early January.

A speedy sale would help to end uncertainty among clients about the future of the fund management group and stop more redemptions from New Star funds.

New Star, which managed more than 20bn six months ago, now has assets of about 11.5bn.

The bank consortium is hoping for a quick disposal of the whole group rather than a break-up, which it fears could leave it with a rump of the business that could be difficult to shift.

The asset manager has taken measures to retain key staff until March, and continues to work on restructuring its debt.

New Star was founded by John Duffield in 2000 after he left Jupiter, a rival fund manager. It established itself quickly as one of the best-known fund management names on the high street.

But it put itself in the hands of its banks after a sudden drop in confidence and a sharp rise in redemptions by clients following the property market downturn and poor performances from star fund managers.

The interest in New Star continues the wave of consolidation in the fund management sector. As well as Aberdeens deal, F&C, majority owned by insurer Friends Provident, continues to talk to potential acquirers, while insurance entrepreneur Clive Cowdery, who recently raised 600m, is keen on asset management because of economies of scale.

New Star and Schroders declined to comment.

http://www.ft.com/cms/s/0/047857f4-e00e-11dd-9ee9-000077b07658.html

Gartmore and Henderson lead New Star race

Date: 11 January 2009
By Terry Murden, Business and City Editor
GARTMORE and Henderson are believed to be front-runners in the bidding for New Star Asset Management, which is expected to be sold within weeks for upwards of 100m.

Aberdeen Asset Management has also been tipped as a contender by sources close to the sale process, even though chief executive Martin Gilbert has distanced himself from it.

Following previous indications that Aberdeen would not be in the frame, Gilbert says in an interview with Scotland on Sunday today that New Star will go to a cash buyer. In the current market his firm is not interested in raising debt to pay for acquisitions and has just bought the asset management business of Credit Suisse in a 250m all-paper deal.

Yet despite his apparent lack of interest, City sources have linked Aberdeen and New Star due to them being seen as a good fit and because of Gilbert's close relationship with New Star boss John Duffield.

"We would love to own it because it is a very good business, but our reluctance to take on debt will preclude us from the process," said Gilbert.

It is thought that up to 10 firms expressed interest in New Star, which saw its share price slide towards the end of last year, culminating in Duffield ceding control of 75% of the business to five banks in exchange for the cancellation of 240m of bank debt. This resulted in a strong outflow of funds, leaving New Star with a fund of about 14bn.

There were tentative attempts at a management buyout by Mark Beale and Richard Lewis, head and deputy head of New Star's institutional fund management arm. They were part of the team that joined New Star in 2000 from global investment manager WorldInvest. It was the acquisition of WorldInvest and its 1.1bn of funds that provided the launching pad for New Star.

Investment bank UBS is handling the sale, which is also thought to have attracted the attention of Neptune and Schroders.

"Neptune made a lot of noise, but people were puzzled as to whether it had got the cash," said one source. Schroders could still be among the likely buyers.

Indicative offers are now in, and it is thought that all parties want to see a deal finalised quickly.

Duffield is likely to depart as soon as the break-up of New Star is complete.

http://business.scotsman.com/bankinginsurance/Gartmore-and-Henderson-lead-New.4863582.jp

Statement re. Press Speculation (New Star Asset Man)

RNS Number : 4444L
New Star Asset Management Group PLC
12 January 2009


12 January 2009

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

New Star Asset Management Group PLC ("New Star" or the "Company")

Statement regarding press speculation
New Star notes yesterday's press speculation concerning a possible sale of the Company.

On 3 December 2008 New Star announced that it had reached agreement in principle with its
lenders with respect to a capital
restructuring (the "Restructuring"). On 9 December 2008, New Star announced that it had
received a number of expressions of interest from
third parties in acquiring the Company's business and that it was considering possible
strategic alternatives to the Restructuring,
including a sale of the Company's business. New Star also confirmed that it was not then
engaged in discussions with any party regarding an
offer for the Company's ordinary shares.

New Star confirms that it has received indicative proposals from a number of third parties
with respect to the Company's business,
including a possible offer for the Company's ordinary shares, conditional upon, inter alia,
the Restructuring taking effect. These
expressions of interest are being considered.

All approaches made, whether in respect of the Company's business or in respect of the
Company's ordinary shares, are at a preliminary
stage and there can be no certainty that any transaction will be forthcoming or as to the
terms of any such transaction. Given the Company's
current and proposed capital structure (following the completion of the Restructuring), it is
not certain that any such transaction will
lead to a significant return, if any, to current shareholders. There can be no assurance that
any offer for the Company's ordinary shares,
if forthcoming, would be at or above the level of the Company's current share price.

In the meantime, New Star is committed to and continues to pursue the implementation of its Restructuring.

Any ideas how all of this translates into a possible share price?

up 23% on low volume
how high if the big players get involved?
bid definitely helping SP but the only thing in life that is certain is taxes and death. DYOR etc

Yes ! Given all the publicity yesterday,there has hardly been a stampede to buy ,yet !
The price now up 45%

2 buys just through for 500 k at 5.25p

A number of bidders.

I bought 77k at 2.75 last week

anyone heard any [legal] whispers re bidders/bidding around the financial markets.
i currently hold as a very small speculative punt[7500@2.75p]

no

no

yikes a big drop today. down 34%as i write.
would top up if i had the funds though it it could all go horribly wrong as they need a bid to materialise. predators circling but doesn't mean they will make an offer.

I think this paragraph from today's RNS sums it up.

"New Star's board of directors is actively pursuing possible alternatives to the restructuring with third parties, including an offer for the company or a sale of the company's business, but there can be no certainty that any such alternative transaction will be forthcoming, nor whether any such transaction (if forthcoming) would lead to a significant return, if any, to shareholders," the company said.

thanks skinny, missed the RNs cos i didn't see any news flag on the stockwatch page.
If the shares delist does that mean they are worthless or just not tradeable or both?
come on predators!!
Alex

No doubt the current hysteria hitting the financial sector has much to do with the move.It appears however to be based on relatively little selling,so that must be some sort of positive.

an article from todays' Sunday Telegraph.
The article refers to a closing price on Friday of 0.3p
Should have been 1099,a fall of 0.3p.
St any rate,it is sure to stir up interest yet again.


Henderson in pole position to buy New Star
Fund management group Henderson Group has emerged as the favourite to buy beleaguered rival New Star Asset Management after being granted exclusive negotiating rights to secure a deal.

By Katherine Griffiths and Richard Blackden
Last Updated: 9:53PM GMT 24 Jan 2009

New Star said last week that it remains in talks about a possible sale of the group, and Schroders is known to have tabled an offer for New Star thought to be worth more than 100m.

Neptune Investment Management is also believed to have made an offer.

The investment house is being sold on behalf of its new shareholders, a cluster of lenders made up of HBOS, Lloyds TSB, HSBC, Royal Bank of Scotland and National Australia Bank.

A debt-for-equity swap and a delisting of New Star's shares was agreed back in early December in order to stop New Star imploding under its own 240m of debt.

Asset managers across the world have been hit by tumbling equity markets the FTSE 100 lost 31pc last year, the Dow Jones Industrial Average sank 34pc and Japan's Nikkei 225 declined 42pc as some investors decided to withdraw their money.

Henderson said in November that its funds under management slipped 3pc to 51.2bn in the third quarter, but added it had seen net inflows of 800m in the period.

The turmoil in the markets is prompting consolidation in the fund management industry. Late in December last year
Aberdeen Asset Management bought the UK asset management business of Credit Suisse Group for 250m, turning itself into the country's largest independent fund management business.

Schroders had been seen as the front-runner for New Star because of its cash surplus of about 700m. A rapid resolution to the sale process is likely to be welcomed as it would end uncertainty among New Star's clients about the future of the group. New Star said in November that its assets under management has tumbled to 14.3bn from 19.8bn at the end of June.

The speed of the collapse of New Star has shocked the City given the group's earlier success.

Established in 2001 by City heavyweight John Duffield, at one point News Star sold products to 10pc of retail investors in the UK and was one of the country's best-known investment brands.

Last week, New Star laid out the timetable for the de-listing of its shares from the London Stock Exchange and called a general meeting for February 10.

Shares in New Star closed at 0.3p on Friday, giving the group a market value of just 5.4m. The shares crashed 99pc during the course of 2008 as investors pulled money from some funds. At their peak in July 2007, the shares hit 485p.

The Family Assurance Friendly Society in September pulled 1.4bn from New Star and in November New Star suspended redemptions from its International Property Fund. In December, New Star froze its Heart of Africa fund - valued at 29m - because of illiquid Sub-Saharan markets.

Mr Duffield rose to prominence when he created Jupiter Asset Management in the mid 1980s and subsequently sold it to German bank Commerzbank. He made about 175m from the sale and subsequently founded New Star.

Text Size Email this article
Print this article
Share this article
delicious
Digg
Facebook
Fark
Google
Newsvine
Reddit
StumbleUpon
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4332300/Henderson-in-pole-position-to-buy-New-Star.html
Related Content
More on Banks and Finance
Schroders tables bid for ailing New Star
FSA stands by rejection as New Star plunges
New Star on the wane
New Star sale expected by end of January
More on ...
Banks and Finance

Notification regarding New Star





TIDMHGG TIDMNSAM

RNS Number : 2076M
Henderson Group plc
25 January 2009

?


Notification regarding New Star Asset Management Group PLC


25 January 2009


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION.


Henderson Group plc ('Henderson Group' or 'the Group') notes the recent
speculation regarding a potential transaction involving the Group and New Star
Asset Management Group PLC ('New Star'). Henderson Group confirms that it is in
discussions with New Star regarding a possible transaction, including a possible
offer for New Star by the Group. There can be no certainty that any transaction
or offer will be forthcoming.


Irrespective of any transaction or offer made, the Henderson Group Board intends
to recommend a total dividend in relation to 2008 of 6.1 pence per share,
equivalent to the total dividend paid in respect of 2007.


Further announcements will be made in due course, as appropriate.

Offer for New Star Asset Management plc

what is the offer for shareholders? is there one ?

2p for ordinary holders??

thanks skinny didn't see that particular .pdf with the info clear as day.
anyone think that there may be other offers forthcoming?

It seems as though 2p is almost a done deal.Best to wait for that,as the selling price at the mo is only 1.8p