Ameriprise To Buy Grail, Push Into ETF Industry

By: ETFdb
After months of speculation sparked by an SEC filing announcing Grail Advisors was near an agreement to be acquired, the future for a pioneer in the active ETF space is a bit more clear. Minneapolis-based Ameriprise Financial has reportedly agreed to acquire Grail, giving the financial giant the exemptive relief required to launch actively-managed ETFs. In a January SEC filing, Grail noted that it had “entered into a letter of intent concerning a transaction involving its ownership interests in order to enable it to continue its operations.” No details on the identity of the suitor were released, with the company’s CEO indicating only that the would-be acquirer was a “well-known firm in the money management space.” According to industry sources, last month the two sides were far apart on the purchase price for the San Francisco-based firm and the exemptive relief it holds. It isn’t clear if the firm mentioned [...] Click here to read the original article on ETFdb.com. Related Posts: Exemptive Relief Update: Russell Pulls Out, Janus Pledges Transparency iShares Gets Active ETF Approval Russell, RAFI Team Up On Fundamental Indexes U.S. One / Russell Planning More ETFs M&A Activity In The ETF World: Russell To Buy U.S. One
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