Weighed down by a falling share price, Macquarie Group Limited (ASX:MQG) has now been tipped as a potential takeover target.
Reuters has suggested Barclays or other investment banks targeting Asia could be eyeing Macquarie.
However, investment bankers have told Reuters that while Macquarie’s falling share price may have caught the attention of its rivals, an approach is not expected soon given global conditions.
Numerous reports have emerged addressing the investment bank’s anticipated revenue decline, ahead of its annual general meeting next week.
Calls for job cuts, a share buyback or even splitting the bank have also gained momentum as Macquarie struggles with subdued market conditions and reduced M&A activity.
Shares in Macquarie have recently slumped to two year lows and yesterday fell 1.31 per cent, closing at $28.62.
In the 2011 financial year Macquarie Group recorded a net profit of $989 million.
