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Rating:Today's Rumor is that MFS is Shopping Not Rated 1.0 Email Routing List Email & Route  Print Print
Thursday, October 13, 2005

Today's Rumor is that MFS is Shopping

by: Sean Hanna, Editor in Chief

Is MFS looking to buy a fund firm? An article published on a trade news Web site Wednesday raised the possibility that the fund arm of Canada's Sun Life Financial may be in the market. So far, though, talk of a deal appears speculative at best.

According to the report, MFS may be looking to do a "large" deal to restore reputational luster it lost in the fund scandals and as a way for Robert Pozen to leave his mark on the firm. MFS tapped Pozen as its chairman after it was implicated in the market-timing and late-trading scandals.

Despite carrying speculation from a number of fund industry consultants that a deal would help the firm, the article did not quote any firsthand sources who said they have knowledge of a deal.

The article speculated that one target could be AIM Funds. However, Amvescap's board already rejected an unsolicited takeover offer from Canada's CI Fund Management this year. 

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