U.S. fund managers are looking to acquire U.K. and euro zone fund managers that could be up for sale owing to the European sovereign debt crisis, Financial News reports. U.S. financial services groups such as Northern Trust Corp. and SEI Investments are eying European buys.
Among potential acquisition targets could be Dexia Asset Management, put on the block last week. Asset managers in the U.S. are waiting to evaluate the final euro zone bailout deal, scheduled for Wednesday, to decide on buyouts. The shares of European and U.K. asset managers have plunged in 2011.
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