More deal talk is swirling, now around a pair of publicly-traded industry giants.
| Joseph Sullivan|
Chairman and Chief Executive Officer
, the largest independent broker-dealer around, is "exploring strategic alternatives," Greg Roumeliotis of Reuters reports
. Separately, asset-management-watching Gabelli
analyst Mac Sykes reacted
favorably to a report that multi-boutique asset manager Legg Mason
] could be a strategic target for investment by a Japanese firm. (Buyout and spinoff rumors swirled
around Legg three and a half years ago, too.)
Meanwhile, in the latest on previously rumored deals, at least one outside PM, David Robinson
, is smiling
at the idea that Amundi might be the winner
in UniCredit's Pioneer
. As for Deutsche Bank
], there's no new word on the beleaguered bank possibly IPOing
its asset management arm, but the whole company, Bloomberg
reports, is under a "hiring freeze"
. And on the Janus
, the only one of these five deals that's actually official
, Henderson CEO Andrew Formica
sees the U.S. as "the largest market for absolute growth" for the merging asset managers.
As for LPL, Bruce Kelly of InvestmentNews reports
that, per unnamed sources, the B-D's board hired Goldman Sachs
after "receiving an unsolicited offer from a potential buyer." Barron's
, and the Wall Street Journal
have all weighed in on LPL's "strategic alternatives" options.
Neil Anderson, Managing Editor
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