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Gerald Sheff, co-founder of Gluskin Sheff + Associates Inc.
Gerald Sheff, co-founder of Gluskin Sheff + Associates Inc.
(Fernando Morales/The Globe and Mail)

Updated: Gluskin Sheff no longer courting takeover bids

Update: Gluskin Sheff has announced that after consideration, it will not seek a sale at this point. Our earlier exclusive on it seeking buyers appears below.

Another venerable Canadian asset manager is up for sale.

Money manager Gluskin Sheff + Associates Inc. is entertaining takeover offers, according to people familiar with the matter. The company has hired investment bankers to explore the possibility of a sale and interested buyers have submitted bids.