More than a month after Bloomberg
reported that Invesco
was the lead bidder for Van Kampen
, the Wall Street Journal
reaffirmed that same rumor. Aaron Lucchetti reports
that Morgan Stanley
will probably sell Van Kampen to Invesco in a $1 billion to $2 billion deal, in exchange for a stake in Invesco. Invesco would also pay Morgan Stanley some cash. But the deal has not yet been sealed.
The WSJ cites Van Kampen's U.S. value management strength as one of the deal's synergies.
Morgan Stanley boasts about $86 billion in Van Kampen funds and about $44 billion in Morgan Stanley funds.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now