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Rating:Are Invesco and Guggenheim Engaged? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 27, 2017

Are Invesco and Guggenheim Engaged?

News summary by MFWire's editors

An Invesco-Guggenheim 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. 

Edited by: Neil Anderson, Managing Editor


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