M&G Shares Briefly Spike After FT Report Apollo Examined a Deal

M&G Plc shares spiked as much as 8.6% on Wednesday after the Financial Times reported that Apollo Global Management Inc. considered a takeover bid for the London-listed money manager and life insurer. The shares quickly erased gains.

Apollo and its affiliated insurer Athora looked at a range of companies before Athora agreed to acquire Britain’s Pension Insurance Corporation in July, the FT reported, citing unidentified people familiar with the matter.

M&G’s Chief Executive Officer Andrea Rossi told the newspaper that there is no engagement between the company and private capital groups that were looking for deals. A representative for Apollo ...