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State Street Corp's State Street Global Advisors Quits Bidding For Credit Suisse Group AG's ETF Unit-Reuters


Tuesday, 18 Dec 2012 11:29am EST 

Reuters reported that State Street Global Advisors has dropped out of the bidding for Credit Suisse Group AG's $17.34 billion European exchange-traded fund business. As first reported by Reuters, BlackRock Inc and State Street Global Advisors, the money management arm of State Street Corp, were among the first round of bidders for Credit Suisse's European ETF business in early October The investment banking arm of Credit Suisse is representing the parent company in the deal. BlackRock is still looking at the business. It could not be determined if other bidders are competing with BlackRock. 

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