Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Franklin Continues to Sniff for Deals Not Rated 5.0 Email Routing List Email & Route  Print Print
Friday, July 31, 2009

Franklin Continues to Sniff for Deals

News summary by MFWire's editors

Franklin Resources' -- whose name has cropped up as a possible Janus suitor and who has recently walked away from negotiations to buy AIG's asset management business -- continues to be on the hunt for acquisition opportunities, says its chief financial officer Kenneth Lewis.

Franklin as of June 30 was in possession of roughly $3.5 billion in cash. That cash, Lewis, said, may very well be put to use in upcoming deals.

"Our strategic and financial strengths have put us in a favorable position," Lewis said in an earnings call with analysts.

During the Q&A portion of the call, Lewis fielded an inquiry about possible acquisitions.

"We continue to look at opportunities, and the key point is that, while we look at opportunities, we do it in a very disciplined way. M&A in general, I would say, a higher risk way of growing a business than organically," Lewis replied.

"In this business particularly, it is such a people business that, you have to be very disciplined in evaluating a property, and that's what we've done, and that's what prove the results. That's what's given the great results we have for our shareholders in the past, and that's why we've been so successful in the acquisitions that we've made," he continued.

"So we'll continue it. The point is that, we continue to look at all the opportunities that are out there as we've been doing for the last couple years," he said. 

Edited by: Meredith Mazzilli


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use