On May 17, 2010, Man Group plc (Man Group), the world’s largest publicly-traded hedge fund manager, and GLG Partners, Inc. (GLG), another hedge fund manager, announced an agreement for Man Group to acquire GLG in a $1.6 billion transaction that would create an alternative investment manager with approximately $63 billion of funds under management.  The proposed acquisition will occur through two concurrent transactions: (1) a cash merger among GLG, Man Group and a Man Group merger subsidiary; and (2) a share exchange among GLG’s principals (Noam Gottesman, Pierre Lagrange and Emmanuel Roman, together with their related trusts and affiliated entities) and two limited partnerships that hold shares for the benefit of key personnel who participate in GLG’s equity participation plan, and Man Group.  The Board of Directors of GLG has unanimously approved the merger and share exchange agreements and recommends that GLG’s stockholders adopt and approve the merger agreement and the merger.  This article summarizes the relevant background of the two hedge fund managers and the structure and terms of the proposed transaction.