A massive merger of asset management firms could be in the offing, according to published reports.
According to the Wall Street Journal, Invesco is said to be in talks to merge with State Street’s asset-management business, citing “people familiar with the matter.”
That said, the article quickly goes on to clarify that a deal between the two—State Street manages some $4 trillion in assets, Invesco another $1.5 trillion—“isn’t imminent,” and that those discussions might not culminate in an agreement, according those same people.
That didn’t keep the news from stoking interest in the stocks of the two firms; the Journal notes that Invesco shares rose more than 8% in after-hours trading, while State Street shares rose more than 1%.
Stay tuned.
