The London Stock Exchange Group is in talks with the parent company of Russell Investments about a possible acquisition of the asset management and stock index firm.Life insurance company Northwestern Mutual started exploring a sale of Russell, which has $259.7 billion in assets under management, in January after deciding it was not a core part of its business.Sources told Reuters last month that Canadian Imperial Bank of Commerce, the fifth-largest bank in Canada, was considering a bid for Seattle-based Russell, which provides services including pension consulting, investment management and indexes such as the Russell 1000 Global Index.Private equity firms CVC Capital Partners and Silver Lake have also teamed up to pursue a bid, as have Warburg Pincus and TPG Capital, the sources said.
Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. Shares of CM traded higher by 0.06% or $0.05/share to $88.95. In the past year, the shares have traded as low as $69.92 and as high as $89.92. On average, 156640 shares of CM exchange hands on a given day and today's volume is recorded at 123270.
Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. Shares of CM traded higher by 0.07% or $0.07/share to $96.91. In the past year, the shares have traded as low as $73.89 and as high as $98.06. On average, 947714 shares of CM.TO exchange hands on a given day and today's volume is recorded at 625432.
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