F&C shares jump after BMO tables £700m takeover The takeover offer comes just five months after Edward Bramson stood down as chairman of F&C, who was widely credited for turning around the company. Mr Bramson seized control of F&C in a bitter boardroom coup in February 2011 after building up a near-20pc stake in the UK's fourth biggest fund manager. He became chairman following a heated shareholder meeting, unseating incumbent Nick MacAndrew, after alleging F&C had failed to cut costs and was lacking in strategic direction. On stepping down as chairman Mr Bramson's investment vehicle, Sherborne Investors, said it would distribute the 19pc F&C stake to its own investors which included Aviva and Threadneedle. F&C's share prie rose by 25pc under Bramson's control.