Columbia Management parent Ameriprise [see profile]may soon be acquiring yet another mutual fund firm.

In December The MFWire reported that Grail Advisors [see profile] was hunting for a "strategic partner," and in January the San Francisco-based active ETF manager revealed that it had "entered into a letter of intent" with a buyer [see The MFWire, 12/20/2010 and 1/6/2011]. Now InvestmentNews' Jessica Toonkel reports that, according to anonymous sources, an Ameriprise purchase of Grail Advisors "is imminent."

The MFWire could not immediately reach Grail Advisors CEO Bill Thomas, Grail Partners managing partner Don Putnam (Grail Partners owns Grail Advisors) and spokespeople for Ameriprise for comment. 

Edited by: Neil Anderson, Managing Editor


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