(ALLZF:OTC) said it will pay about $940 million, or about 95% of the initial purchase price of $980 million, in goodwill for its acquisition of asset management company
The German company bought bond fund manager
earlier this year and was recently in
takeover talks with three other American asset managers:
Waddell & Reed
Gabelli Asset Management
Allianz's latest takeover bid comes at a time when the weak euro, increased demand for equities and globalization have encouraged foreign takeovers of American fund managers.