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Article: Northern Trust to acquire financial-services business for $480 million.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 23, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By James P. Miller, Chicago Tribune Knight Ridder/Tribune Business News
Nov. 23--Northern Trust Corp., expanding its international presence, agreed to pay $480 million to acquire Baring Asset Management's financial-services business.
The purchase from Baring's Netherlands-based owner ING NV "positions us for growth in Europe," an official with the Chicago-based bank holding company told analysts in a Monday-morning conference call.
Specifically, "we'll be enhancing the set of services that can be offered to our important and growing base of fund managers," said Rick Waddell, president of Northern's Corporate and Institutional Services ...