A T. Rowe Price spokesperson confirmed today that the Baltimore asset manager is negotiating with
Robert Fleming Holdings to buy Fleming's half of its fund management joint venture, London and Baltimore- based
Rowe-Price Fleming International.
Flemings, which is in takeover talks with
Chase Manhattan Corp, entered into the joint venture in 1979. The venture currently has about $43 billion under management, including $24 billion in 13 no-load mutual funds and the rest in separate accounts for institutional clients.
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