BNP Paribas in Exclusive Talks for $5.5 Billion Acquisition of AXA IM
Provided by
Dow Jones
By Adria Calatayud
BNP Paribas entered into exclusive talks to buy the investment-management arm of insurer AXA for 5.1 billion euros ($5.52 billion) and reach a long-term partnership in asset management.
The French bank said Thursday that the newly-formed business would oversee assets amounting to EUR1.500 trillion and become a leading European player in the sector.
The signing of the proposed transaction is expected by the end of the year, but remains subject to consultations with employee-representative bodies, the companies said. The deal would close by mid-2025, they added.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
August 01, 2024 13:11 ET (17:11 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks
United States