Invesco rises on report of merger talks with State Street unit

Steelcase

17/09/2021 12:41

** Shares of investment management co  IVZ.N  up 5.6% at
~$26 premarket - among top NYSE-listed pct gainers
    ** Stock on track to open at its highest since mid-July if
gains hold
    ** IVZ is in talks to merge with State Street Corp's  STT.N 
asset-management business, Reuters reported on Thursday https://www.reuters.com/article/invesco-state-street/update-2-invesco-in-talks-to-merge-with-state-streets-asset-management-business-source-idUSL4N2QI3MV,
 citing a source familiar with the matter 
    ** The potential deal would be one of the biggest in the
industry in recent times
    ** STT was exploring options for its asset management unit
including a merger with a competitor, Bloomberg News reported in
December https://www.bloomberg.com/news/articles/2020-12-11/state-street-is-said-to-explore-options-for-asset-management-arm?utm_content=asia&cmpid%3D=socialflow-twitter-asia&utm_source=twitter&utm_medium=social&utm_campaign=socialflow-organic,
 citing people familiar with the matter
    ** STT had evaluated potential combinations with asset
management operations of IVZ and UBS Group AG  UBSG.S , the
report said
    ** STT shares were up marginally 

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))