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Friday, May 11, 2012|
The Guggenheim-DWS Deal Falls Apart
Deutsche Bank is no longer in exclusive negotiations to sell DWS Americas [profile] to Guggenheim Partners [profile]. Today the German bank's management board revealed that the exclusive talks with Guggenheim are over, except when its comes to the alternatives business. Yet DWS is still on the block.
A spokeswoman for Guggenheim declined to comment for this story.
Bloomberg, Dow Jones, the Financial Times, Opalesque, Reuters and RTTNews all reported on the change in the negotiations.
Deutsche officially started weighing "strategic options" for its global asset management business, including the U.S. mutual fund business but excluding the DWS franchise in Asia, Germany and the rest of Europe. In February Deutsche narrowed the bidding to one, Guggenheim, entering "exclusive negotiations."
Here's today's announcement from Deutsche Bank:
Frankfurt am Main May 11, 2012
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