Ameriprise Financial (AMP) to Acquire J. & W. Seligman & Co. for $440M
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Ameriprise Financial, Inc. (NYSE: AMP) today announced a definitive agreement to acquire J. & W. Seligman & Co. Incorporated for a total consideration of $440 million. The transaction, which is likely to close in Q408, is expected to be accretive to Ameriprise Financial earnings and return on equity in 2009.
New York-based Seligman manages approximately $18 billion in assets in open- and closed-end funds, hedge funds and institutional accounts.
Ameriprise Financial, Inc. provides financial planning, asset management, and insurance services to individuals, businesses, and institutions.
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