engagement announcement could be just around the corner.
As soon as tomorrow, the two companies could unveil a deal for Invesco to buy Guggenheim's $30-billion AUM ETF business, Sujeet Indap and James Fontanella-Khan of the Financial Times
report. The paper puts the deal price range at $1.1 billion to $1.3 billion, in cash, which translates to 3.7 to 4.3 percent of AUM.
Invesco-Guggenheim deal rumors have swirled
publicly for almost two months, with different reports on the size (initial reports put the price tag at $2 billion) and scope (just the ETF business, or the whole retail asset management arm) of the deal. A month ago, so the reports go, the deal talk narrowed
specifically to the ETF business and about $1 billion as a ballpark price.
The deal speculation continues even as other Guggenheim rumors — about an internal conflict between CEO Mark Walter
and chief investment officer Scott Minerd
, and about a relationship between Walter and global institutional distribution chief Alexandra Court
— have shifted from the business press into the tabloid press
and the real estate blogosphere
Guggenheim has pushed back against the discord and possible Walter departure rumors, and both Invesco and Guggenheim aren't talking about any possible deal.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now