(Reuters) – Investment management firm Invesco Ltd is in talks to merge with State Street Corp’s asset-management business, the Wall Street Journal reported here on Thursday, citing people familiar with the matter.
A deal is not imminent, and the discussions might not result in an agreement, the WSJ reported.
It isn’t clear what the terms of a potential deal would look like, but it would be one of the industry’s biggest in recent memory, given State Street’s asset-management unit manages nearly $4 trillion in assets, according to the report.
Invesco declined to comment, while State Street did not immediately respond to a Reuters request for comment.
Shares of Invesco, which has $1.5 trillion in assets under management, rose 6.5% in extended trade, while State Street was up 2%.
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