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 |
|
Thursday, October 28, 2004 Federated Snaps up $29 Bn in Assets Pittsburg, Pennsylvania-based Federated Investors has agreed to buy $29 billion in money market assets from Alliance Capital Management. Federated will pay $25 million in cash and an estimated $93 million in payments (to be based on revenues) spread over five years to Alliance. The boards of directors of both companies have approved the transaction, which they expect will close by the third quarter of 2005. Upon shareholder approval, Federated will move the assets of 22 Alliance money market funds into 21 of its own similar money market funds. Federated managed $125.5 billion in money market assets and $178 billion in total assets at the end of September. Printed from: MFWire.com/story.asp?s=8349 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |