London Stock Exchange is in talks to buy Russell Investments, which Northwestern Mutual Life Insurance officially put on the auction block early this year.
LSE confirmed that it was "evaluating the merits of a potential transaction involving Russell" and engaged in discussions with Northwestern Mutual.
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The company added that if the deal were to proceed it would be part funded by an equity raise.
Russell comprises two main units, its stock-index business, which includes the Russell 2000 barometer of small-stock performance in the US, and an investment business, which had some $260 billion in assets under management as of the end of March.
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 told Reuters.
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