Deals
Nomura Said to Seek Stake in American Century for $1 Billion
- Japanese firm seeking to expand into U.S. retail markets
- Purchase from CIBC said due to take place in early 2016
This article is for subscribers only.
Nomura Holdings Inc., Japan’s biggest brokerage, plans to pay about $1 billion for a stake of around 40 percent in U.S. money manager American Century Investments, according to a person familiar with the matter.
The purchase from Canadian Imperial Bank of Commerce would take place early next year, the person said on Monday, asking not to be identified because the matter was confidential. Details could be announced as early as the same day if an agreement is reached, the person said.