MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, September 26, 2003 Is Hancock a Buyer or a Seller? The Boston Globe is reporting that John Hancock Financial Services is in "advanced stages" of talks with an unnamed potential buyer. The paper quoted several "executives familiar" with those negotiations in an article detailing the possible sale published Friday morning. Word of a possible deal leaked when Hancock started contacting directors to confirm their availability for a special board meeting, according to the paper. Trading volume in Hancock's stock tripled yesterday prior to the paper's article. The article stated that it is "widely expected" that Hancock executives are negotiating a sale of the business, but it added that Hancock may be on the buyer's side of the table. The lead contender to buy the insurer, according to the Globe, is ManuLife Financial Corp. Also mentioned as a possible buyer is MetLife Inc. Then again, the paper states that Hancock may be negotiating to buy General Electric's insurance business or Citigroup's Travelers Life & Annuity Co. unit. Printed from: MFWire.com/story.asp?s=5909 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |