Aug
09
MassMutual Is Weighing Sale of OppenheimerFunds Division
By-
Mutual fund giant is said to be worth at least $5 billion
- Life insurer is working with financial advisers on divestiture
Massachusetts Mutual Life Insurance Co. is weighing a sale of asset manager OppenheimerFunds Inc., which could fetch at least $5 billion, according to people familiar with the matter.
The Springfield, Massachusetts-based insurer is working with advisers to evaluate a sale, a process that is at an early, informal stage, said the people, who asked not be identified because the matter isn’t public. No decision has been made and MassMutual could opt to hold onto the firm, they said…
