Franklin Resources is moving to the head of the line in the bidding war for AIG Investments. Bloomberg reports that Franklin is partnering with private equity firm Crestview Partners for the deal.

The two bidders are reportedly being advised by Franklin's former co-president Charles E. Johnson. If the group makes the successful bid, it plans to retain Win Neuger as the head of the division. The MFWire first reported that Franklin was a potential suitor for AIG Investments back in April. (see MFWire 4/7/09)

Franklin has also been connected to another big mutual fund deal. The company reportedly made a preliminary offer to purchase Bank of America's Columbia Management earlier this month. (see MFWire 5/11/09) 

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