Jupiter to buy Merian as UK fund managers consolidate

LONDON (Reuters) - Jupiter Fund Management said on Monday it had agreed to buy Merian Global Investors for an initial 370 million pounds in shares, in a deal that will make it Britain's second-largest retail funds provider.The deal is the latest in the actively managed fund management sector, where rising regulatory costs and pressure on fees from cost-conscious investors has pushed smaller firms to join forces and share the burden.Jupiter, long considered a merger target in its own right, said..