Entering text into the input field will update the search result below

Reuters: State Street nears deal for GE's asset management operation

Feb. 05, 2016 12:44 PM ETGeneral Electric Company (GE) StockGE, STTBy: Stephen Alpher, SA News Editor2 Comments
  • General Electric's (GE -1.8%) asset management arm had $115B in AUM as of June 30, with much of that the retirement plans for the vast majority of the company's 13K U.S. employees.
  • According to Reuters, State Street (NYSE:STT) has won the battle over a number of other bidders, including Goldman Sachs, and is now in final negotiations. An agreement with a sale price in the area of $500M could come as early as this month.
  • Proceeds from the sale will go into beefing up GE's pension trust - underfunded by $15.8B as of the end of 2014.
  • For State Street, it would be a nice pickup in AUM to help offset sizable fund outflows last year. The company had about $2T in AUM as of Dec. 31.

Recommended For You

About GE Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
GE--
General Electric Company