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Thursday, June 07, 2012

Federated and Dexia?

News summary by MFWire's editors

There could be another deal in the works by a mutual fund firm. Federated Investors [profile] CEO Chris Donahue is on the lookout for acquisitions and is open to a large deal, reports Reuters.

The newswire says the $363.6 billion Pittsburgh asset manager is a possible bidder for Franco-Belgian bank Dexia's asset management arm.

Reuters also reported that Donahue prefers to use Federated's own resources for deals, not dividends.

"We wouldn't pause, in terms of size, if it was the right deal. In terms of... priorites, we do like the dividend. We would prefer to use cash for acquisitions," Donahue said at the Keefe, Bruyette & Woods investment conference. 

Edited by: HFD

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