ARZGY - Generali is said to weigh takeover of Guggenheim asset management unit for $4B

• Assicurazioni Generali ( OTCPK:ARZGF ) ( OTCPK:ARZGY ), the biggest insurer in Italy, is progressing in its discussions to buy the asset management business of U.S.-based Guggenheim Partners, in a deal that could be valued at as much as $4B, Bloomberg reported Friday, citing people with knowledge on the situation.
• Generali ( OTCPK:ARZGY ) was said to have first weighed the acquisition of Guggenheim's asset management division to expand its asset arm at the end of September, when the stock climbed over 4% as a result of the news.
• The insurer will determine whether it wants to formalize a bid by the end of 2022 as it completes due diligence on the matter, the people told Bloomberg.
• Spokesmen for Generali and Guggenheim declined to comment to Bloomberg's request for comment.
• The potential acquisition comes at a time when the U.S. dollar ( DXY ) is at its strongest in decades, thus making U.S.-based assets more costly.
• See how Generali's earnings fared in the first half .

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