UK fund manager Henderson Group remains on the lookout for acquisition targets after dropping its takeover bid for US rival Ridgeworth for an estimated $400m (€323m).

In a statement to the London Stock Exchange this morning, Henderson said: "Further to Henderson Group's announcement on 12 April 2010, the Group announces today that discussions regarding a potential acquisition by the Group of certain businesses of RidgeWorth Capital Management, the US asset manager owned by SunTrust Banks, have been discontinued as the parties have not reached agreement on terms."