Ameriprise scoops up Bank of America unit for $1 billion - Tom Taulli

Sign Up | Log In | What is SocialPicks?

Ameriprise scoops up Bank of America unit for $1 billion
Sep 30, 2009 06:20 PM UTC

Tom Taulli

Return	Risk
+0.00%	N/A

Tracked Blogger

Profile & Performance

Subscribe to author

Symbol	Sentiment	Start	Return	Closed
AMP	n/a
BAC	n/a

Via BloggingStocks:

Filed under: Deals, Bank of America (BAC)

To bolster its capital base and get more focus, Bank of America (NYSE: BAC) has been in the process of unloading noncore assets. And, we got the latest deal today; that is, the company has agreed to sell its long-term asset management unit, Columbia Management, to Ameriprise Financial (NYSE: AMP). The price tag comes to roughly $1 billion.

Columbia is certainly a nice business, with a wide assortment of stock and bond mutual funds. One of its standout funds is the Acorn Fund, whose manager is Charles McQuaid.

Continue reading Ameriprise scoops up Bank of America unit for $1 billion

Ameriprise scoops up Bank of America unit for $1 billion originally appeared on BloggingStocks on Wed, 30 Sep 2009 13:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Read the rest of original post »

Add Comment

Be the first to comment on this story and earn 2 points.

Your Comment

IN THE PRESS

None of the information contained on SocialPicks.com constitutes a recommendation by SocialPicks or its users that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. SocialPicks is not responsible for the posts, discussions, and recommendations of the users on the Site. SocialPicks does not provide investment advice. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the website. SocialPicks' users' past results are not necessarily indicative of future performance. Neither SocialPicks nor any of its users guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the website. You understand and agree that you use the Site and Services at your own discretion and risk and that you will be solely responsible for any damages that arise from such use. Before acting on any information contained on the website, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.