05.31.23
Franklin Templeton To Acquire Putnam Investments from Great-West Lifeco
by: Dean Seal
Franklin Templeton has agreed to acquire Putnam Investments from the Canadian financial company Great-West Lifeco. Great-West Lifeco said that the potential transaction consideration and retained value of the deal is estimated to be between $1.7 billion and $1.8 billion. The value is partly based on the growth of a newly formed strategic partnership with Great-West Lifeco and Power Corporation of Canada to distribute Franklin Templeton products to clients, distribution partners and shareholders. Great-West Lifeco will retain PanAgora, its Boston-based quantitative asset manager, under the terms of the agreement.
Read the full article on Wall Street Journal