The Columbia Management bidding process is almost over. The MFWire has learned that Ameriprise plans to seal the deal next week to buy the asset manager from Bank of America. One source familiar with the situation told the MFWire that he's "all but sure" that Columbia's money market assets will not be included in the deal.

Ameriprise spokesman Ryan Lund declined to comment. A Columbia representative could not immediately be reached for comment.

As recently as late July, Madison Dearborn Partners (the private equity firm backing Nuveen) was reportedly also still in the running for Columbia.

One issue to resolve in the deal's final days will be to determine who ends up on top. For the senior executives at Ameriprise (and RiverSource), the deal would continue a roller coaster ride that started when the firm bought Seligman last year. And one source cited the Acorn Funds' board as one of the reasons the deal has taken this long.

An industry insider familiar with the situation added that distribution via U.S. Trust (BofA's private bank) and Merrill Lynch (the wirehouse BofA now owns) is another key issue that the two parties may be working out.

"It could be a win-win deal," that insider told the MFWire, adding that he anticipates the price will be around $1 billion.

Check back for more information as this story develops. 

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