Shares in Henderson Group were up on the FTSE 250 after the asset management company confirmed it is interested in a takeover of rival Gartmore.

The group said that it had made a conditional offer for Gartmore, but added that no terms had been agreed and that there was no certainty that any transaction will go ahead.

By 11:25 shares in Henderson were up 2.76 per cent on the FTSE 250 to 134.10 pence per share. However Gartmore saw its shares decline 9.35 per cent to 95.00 pence per share.