(April 24 – 12:15 ET) – The stock of fund industry giant Trimark Financial Corp. was halted briefly this morning. Trimark’s stock was up more than 8% at the time.
Trimark has been approached concerning a transaction that “may affect control of the corporation. There can be no assurance that such discussions will result in the corporation entering into any agreement contemplating a change of control of the corporation,” said Trimark in a prepared statement.
Internet chat suggests that the firm is set to announce a merger with AIM Management Inc. AIM is known to have been in the market for a takeover for some time now, while Trimark is viewed as an attractive target for its large asset base, strong brand, and aging controlling shareholders.
-IE Staff