A bidding war has erupted over British money manager Gartmore PLC - and NationsBank Corp., which recently entered a joint venture with the firm, is holding some of the high cards.

On Friday, Paris-based Banque Indosuez placed its 75% stake in Gartmore on the market. The action triggered NationsBank's option to buy up to a 25% position in Gartmore, which manages $34.5 billion in pensions and other institutional investments.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.