Shares of banks and lenders fell amid news of a big potential deal in the sector.
Invesco is in talks to merge with State Street's asset-management business, The Wall Street Journal reported, citing people familiar with the matter. A deal isn't imminent, and the discussions might not result in an agreement, the people said. It isn't clear what the terms of a potential deal would look like, but it would likely be one of the industry's biggest in recent memory, given State Street's asset-management unit manages nearly $4 trillion in assets.
Meanwhile, Hong Kong is considering whether to allow listings of blank-check companies, potentially opening the doors to a wave of Chinese-focused deals involving special-purpose acquisition companies.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
09-17-21 1719ET
