THE country’s largest life and pensions group Old Mutual said on Monday it is buying US United Asset Management Corp for an agreed $1,46-billion in cash, in a tender offer at $25 per share. “We expect there to be significant opportunities for cross selling and distribution of investment products into Old Mutual’s client base,” Mike Levett, chairman and chief executive of London-based Old Mutual, said in a statement. “This transaction will be a major step forward towards our aim of developing a focused and coordinated global asset management business. We anticipate that the transaction will be immediately accretive to Old Mutual’s cash EPS.”