Reports late last week were that German insurer Allianz was in talks to purchase Nicholas Applegate. Now the word is that the German insurer is in discussions with Franklin Resources Inc. and three smaller players. The news was reported by Reuters Tuesday.

Franklin is also discussing takeovers of Waddell & Reed Financial Inc. and Gabelli Asset Management Inc., according to the report. None of the firms commented to Reuters.

However, Reuters said that Waddell chief Keith Tucker had said in July that he was not opposed to selling the firm for the right price.  

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