Within the past month, mergers and acquisitions around the world have begun to pick up the pace, with Ameriprise Financial Ltd. being the latest company to get bitten by this bug.
Ameriprise Financial Ltd. has snagged the stock and mutual fund business of Bank of America Corp’s Columbia Management unit, for a price tag of up to US$1.2B. The deal would make Ameriprise Financial the eighth largest manager of longer term mutual funds in the U.S., pushing the company’s total asset portfolio to nearly US$400B.
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