Fisher Investments Denies Sale Talks Amid Acquisition Reports
Money-management firm Fisher Investments has denied reports that it is in sale talks with private-equity firm Advent International. The Wall Street Journal had previously reported that acquisition talks were underway, but Fisher Investments quickly rebutted the claims. Naj Srinivas, Fisher’s executive vice president for corporate communications, stated, “Fisher Investments is not being bought by Advent International, or anyone else — plain and simple.” Advent International also denied the report, with a spokesperson asserting, “Advent is not buying Fisher Investments.”
Wall Street Journal Report on Fisher Investments Sale Denied
The Wall Street Journal, citing sources familiar with the matter, reported that Fisher Investments was in discussions with Advent International for a potential sale. However, Fisher Investments swiftly dismissed the report as baseless. The details of the alleged acquisition talks were not disclosed in the article, and the Journal acknowledged that a deal might not materialize or that other suitors could emerge. Fisher Investments criticized the Journal’s lack of verification, claiming that if given the opportunity to comment, they would have corrected the story.
Advent International Denies Plans to Acquire Fisher Investments
Private-equity firm Advent International has firmly denied any plans to acquire Fisher Investments. In response to the Wall Street Journal’s report of acquisition talks between the two firms, Advent International explicitly stated that it is not buying Fisher Investments. Advent International, which focuses on buyouts and manages $92 billion in assets, confirmed that they have no intention of acquiring the money-management firm.
Billionaire Ken Fisher’s Firm Denies Sale Speculations
Fisher Investments, founded by billionaire Ken Fisher in 1979, has vehemently denied the speculation surrounding the sale of the firm. Fisher Investments manages approximately $236 billion in assets globally, according to its website. Ken Fisher transitioned from CEO to executive chairman and co-chief investment officer in 2016. Last year, the firm faced significant withdrawals from clients after Fisher made inappropriate comments during a conference, for which he later apologized. Furthermore, in a move motivated by Washington’s high capital-gains tax, Fisher relocated the firm’s headquarters from Washington state to Texas in 2019.
Fisher Investments and Advent International Dismiss Acquisition Rumors
Both Fisher Investments and Advent International have dismissed the rumors of any possible acquisition. Fisher Investments, a well-established money-management firm managing billions of dollars in assets, strongly denies the claims of an imminent sale to Advent International or any other buyer. Advent International, renowned for its private-equity buyout strategies, firmly refutes any interest in purchasing Fisher Investments. While it remains to be seen whether other suitors may emerge or a deal may eventually materialize, both firms have unequivocally denied their involvement in any acquisition discussions.
Analyst comment
Neutral news: Fisher Investments Denies Sale Talks Amid Acquisition Reports
Analyst prediction: The market is likely to remain stable as the denial from Fisher Investments and Advent International alleviates concerns of a potential acquisition. However, investors may continue to monitor the situation for any further developments.
