Reuters exclusively reports Italy’s Generali in bid to acquire U.S. asset manager Brightsphere

Reuters exclusively reported that Assicurazioni Generali SpA has approached Brightsphere Investment Group Inc about a possible acquisition of the U.S. asset management firm. A deal would expand the U.S. footprint of Italy’s top insurer while enabling Brightsphere’s largest shareholder, hedge fund Paulson & Co, to cash out.

Market Impact

Brightsphere shares rose as much as 25% on the news, giving the company a market capitalization of more than $1 billion.

Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Equities
Regions: AmericasEurope
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Market Impact