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An employee watches a news broadcast on the trading floor at Panmure Gordon & Co. in London, U.K.
WisdomTree Investments is said to have explored a sale to J.P. Morgan Chase last year, Bloomberg News reported.
The news report, citing people familiar with the matter, said no deal came through because the two couldn’t agree on a price, and WisdomTree is no longer seeking a buyer.
WisdomTree, the seventh-largest U.S. exchange-traded fund issuer with more than $38 billion assets under management, had a tough 2018, with its shares tumbling a whopping 47 percent. The stock is down another 4 percent so far this year, even though the market rebounded from its steep plunge in December.
The asset manager could explore a sale again if its shares rebound, one of the people told Bloomberg.
WisdomTree and J.P. Morgan both declined to comment.
J.P. Morgan had several successes last year in the ETF market, gathering billions of investor dollars in new funds. The bank has filed for an ETF that some in the industry are speculating could be free of charge.
— Click here to read the original Bloomberg report.
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