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Friday, November 20, 2009
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Rydex sale said to be imminent
Rydex Investments of Rockville, Md., is near a deal to sell itself for about $800 million to $1 billion.
Invesco PLC of London, formally Amvescap PLC, was identified as a potential buyer in an article in this week's issue of InvestmentNews. E*Trade Financial Corp. of New York was identified as another potential buyer by TheStreet.com. Rydex Investments is near a deal to sell itself for about $800 million to $1 billion, according to TheStreet.com. Rydex, based in Rockville, Md., was quoted in today’s InvestmentNews as saying it could not comment on rumors it is for sale because it is a privately held company. Rydex is owned by a trust controlled by the family of the company’s founder, Albert “Skip” Viragh Jr., who died in 2003. But two sources whose companies had dropped out of talks to acquire Rydex said they believe a sale is immanent.
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