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CI Financial, a Canadian fund manager has indicated that it is prepared to go hostile in its pursuit of Amvescap.

In contrast, Martin Flanagan, the new CEO of Amvescap ruled out any attempt to sell the company.

An informal offer had previously been rejected. A statement from CI said that this had been for the whole company and had been at a significant premium to the share price. Also CI had tried to buy the Aim Trimark subsidiary.

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