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

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

Rating:Invesco Spends Another $17.2 Million on the Van Kampen Deal Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 28, 2010

Invesco Spends Another $17.2 Million on the Van Kampen Deal

News summary by MFWire's editors

Invesco will soon close on its purchase of Morgan Stanley's retail asset management business (including Van Kampen), and Invesco continues to spend money preparing. In its first quarter 2010 earnings report issued today, the Atlanta-based asset manager revealed that it spent another $17.2 million in Q1 on "transaction and integration charges" in anticipation of the deal closing, scheduled for June 1. (Invesco already spent $9.8 million on the deal in Q4 2009, and the overall price of the deal is $1.5 billion in cash and stock.)

Meanwhile, Invesco earned an adjusted $0.27 per share, slightly beating analysts' estimates of $0.26, Reuters reports and almost tripling from $0.11 in Q1 2009. Invesco's assets dipped slightly during the quarter, from $423.1 billion on December 31, 2009 to $419.6 billion on March 31, 2010, thanks largely to $10.6 billion in net money market fund outflows. (Long-term assets netted $3.7 billion in inflows.) 

Edited by: Neil Anderson, Managing Editor

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

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
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:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use