Invesco to buy OppenheimerFunds from MassMutual for $5.7bn

Invesco, an independent investment management firm, to buy OppenheimerFunds, a leader in global asset management, from MassMutual, a leading mutual life insurance company, for $5.7bn. "The combination with OppenheimerFunds and the strategic partnership with MassMutual will meaningfully enhance our ability to meet client needs, accelerate growth and strengthen our business over the long term. This is a compelling, highly strategic and accretive transaction for Invesco that will help us achieve a number of objectives: enhance our leadership in the US and global markets, deliver the outcomes clients seek, broaden our relevance among top clients, deliver strong financial results and continue attracting the best talent in the industry." Martin L. Flanagan, Invesco President and CEO