Two Suitors are Left Vying for Pioneer
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Monday, January 24, 2011

Two Suitors are Left Vying for Pioneer

Financial News has the latest on the Pioneer Investments story. Only two bidders are left in the running for UniCredit's Pioneer [see profile], according to the pub, which stated that UK insurance firm Resolution bowed out of contention, leaving Amundi and Natixis to vie for Pioneer. [See MFWire's living timeline of the Pioneer auction for more details and history.]

The report states that the Pioneer deal is likely to come with a price tag of about EUR 1.5 billion. This is half of Pioneer's value of EUR 3 billion in UniCredit's accounts.

According to the report, both suitors want to issue shares for the transaction.

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