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Sun Life Financial Inc. Message Board

  • daniel_299 daniel_299 Sep 18, 2006 11:55 AM Flag

    MFS Sale

    Could mean retaining a partial interest while realizing up to 4 billion in cash to re-deploy elsewhere. Good news.

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    • I am not saying that I would pull out of Sun Life. I would strongly consider and it would be likely that I would move all my MFS investments to another asset management firm. I believe MFS would have strong outflows if a merger was announced. I invested in MFS funds for a specific reason. I would not leave my money with Wachovia or Mellon.

    • Why such a harsh response? I am just telling it like it is. I like the management style of MFS. Why taint this by merging with a large asset management company. My money will go elsewhere if the merger happens.

    • DID YOU ALL SEE THIS?


      News Release for SUN LIFE FINANCIAL INC. (SLF-C)


      Mellon Financial, Wachovia Bidding For MFS - CNBC



      NEW YORK -(Dow Jones)- Mellon Financial Corp. (MEL) and Wachovia Corp. (WB) are both bidding for Sun Life Financial Inc.'s (SLF) U.S. mutual fund arm MFS, CNBC reported Wednesday.

      The deal is likely to be valued at $3 billion, and CNBC's Charles Gasparino said sources told him that Mellon is in the lead. A deal is expected in the next few weeks, he said. Mellon is primarily a bond house while Wachovia has diversified assets but needs a third-party distributor, he said.

      Sun Life on Monday said it has retained investment bankers to advise on strategic alternatives for MFS.

      The Toronto-based company also said it remains committed to growing MFS, including expanding distribution and research globally, and improving performance and profit margins.

      Sun Life noted that there can be no assurance that a transaction will result from the exploration process.

      -A. Christian Jean, Dow Jones Newswires; 201-938-2007; aymar.jean@dowjones.com



      (END) Dow Jones Newswires

      October 11, 2006 13:42 ET (17:42 GMT)

      Copyright (c) 2006 Dow Jones & Company, Inc.

      • 1 Reply to dot_com_came
      • Yes, I saw it. Please note the last line "Sun Life noted that there can be no assurance that a transaction will result from the exploration process.". If you put your house on the market and don't receive the price you want, are you still going to sell? For Sun Life to sell MFS, they need to make sure that this is the right time. Which it obviously isn't. My gut feeling is that nothing will happen.

    • DID YOU ALL SEE THIS?


      News Release for SUN LIFE FINANCIAL INC. (SLF-C)


      Mellon Financial, Wachovia Bidding For MFS - CNBC



      NEW YORK -(Dow Jones)- Mellon Financial Corp. (MEL) and Wachovia Corp. (WB) are both bidding for Sun Life Financial Inc.'s (SLF) U.S. mutual fund arm MFS, CNBC reported Wednesday.

      The deal is likely to be valued at $3 billion, and CNBC's Charles Gasparino said sources told him that Mellon is in the lead. A deal is expected in the next few weeks, he said. Mellon is primarily a bond house while Wachovia has diversified assets but needs a third-party distributor, he said.

      Sun Life on Monday said it has retained investment bankers to advise on strategic alternatives for MFS.

      The Toronto-based company also said it remains committed to growing MFS, including expanding distribution and research globally, and improving performance and profit margins.

      Sun Life noted that there can be no assurance that a transaction will result from the exploration process.

      -A. Christian Jean, Dow Jones Newswires; 201-938-2007; aymar.jean@dowjones.com



      (END) Dow Jones Newswires

      October 11, 2006 13:42 ET (17:42 GMT)

      Copyright (c) 2006 Dow Jones & Company, Inc.

    • The sale will never happen. Sun Life will not receive the value that they are looking for. This is just another period of false hype.

 
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