U.S. money manager Invesco may announce a deal to purchase Guggenheim Partners' exchange-traded fund business on Thursday, the Financial Times reported on Wednesday, citing two people familiar with the matter.
Invesco is expected to pay between $1.1 billion and $1.3 billion in cash for the purchase, which has yet to be finalized, the newspaper said, citing the unnamed sources.
Guggenheim's ETF business has around $30 billion in assets under management, while Invesco has $125 billion under management, making it the fourth largest ETF manager globally, the report said.
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Invesco Ltd. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Nov. 28, 2016.
Invesco acquired asset manager Source in April to strengthen its ETF product offering, the report said.
Invesco and Guggeinheim didn't immediately respond to CNBC's requests for comments, which were sent outside of office hours. The Financial Times report said the two declined to comment.
Read the Financial Times' full story.