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Investing.com -- Apollo Global Management had considered M&G as a potential takeover target earlier this year, as private capital groups look to expand into Europe’s retirement sector.
Apollo and Athora, a European insurance group created by the private capital firm, included the FTSE 100 insurance and asset management group on a list of possible acquisition targets, according to The Financial Times, citing people familiar with the situation.
M&G Chief Executive Andrea Rossi told the FT that "there is no engagement" between the company and private capital groups seeking deals.
Before ultimately deciding to acquire UK retirement group Pension Insurance Corporation in July, Apollo and Athora evaluated numerous companies as potential acquisition candidates, the sources said.
Following the news, M&G shares briefly spurted higher in London trade before paring gains, now lower by 0.4% on the day.
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