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Liberty Financial Cos

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BUSINESS
November 2, 2000 | Reuters
Liberty Financial Cos., owner of the Stein Roe & Farnham mutual funds, said it is considering strategic options, including putting itself up for sale. Liberty Financial, which is 70% owned by giant insurer Liberty Mutual, could fetch around $2 billion and attract interest from a host of U.S. and foreign financial-service firms, industry sources said. Shares of Liberty Financial jumped $9, or 33%, to close at $36 on the New York Stock Exchange, giving the company a market value of about $1.
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BUSINESS
May 3, 2001 | Reuters
Sun Life Financial Services of Canada Inc. agreed to acquire Liberty Financial Cos.' Keyport Life annuity business for about $1.7 billion, expanding its foothold in the U.S. financial services market, sources said. The transaction was approved by both companies' boards and is expected to be announced early today, sources said. The deal is part of an auction started by Boston-based Liberty Financial, which first announced plans to sell its operations in November.
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BUSINESS
May 3, 2001 | Reuters
Sun Life Financial Services of Canada Inc. agreed to acquire Liberty Financial Cos.' Keyport Life annuity business for about $1.7 billion, expanding its foothold in the U.S. financial services market, sources said. The transaction was approved by both companies' boards and is expected to be announced early today, sources said. The deal is part of an auction started by Boston-based Liberty Financial, which first announced plans to sell its operations in November.
BUSINESS
November 2, 2000 | Reuters
Liberty Financial Cos., owner of the Stein Roe & Farnham mutual funds, said it is considering strategic options, including putting itself up for sale. Liberty Financial, which is 70% owned by giant insurer Liberty Mutual, could fetch around $2 billion and attract interest from a host of U.S. and foreign financial-service firms, industry sources said. Shares of Liberty Financial jumped $9, or 33%, to close at $36 on the New York Stock Exchange, giving the company a market value of about $1.
BUSINESS
July 28, 1998 | From Times Wire Services
American Express Co. said on Monday that double-digit gains in its travel-related services and financial advisor units pushed second-quarter profit up 11%, topping Wall Street estimates. The company said net income rose to $578 million, or $1.24 a diluted share, from $520 million, or $1.08 a year ago, beating consensus analysts' estimates by 2 cents. Revenue advanced 7.7% to $4.76 billion. The results boosted American Express shares, which closed up $5.75 at $112.
BUSINESS
October 15, 1994 | From Times Staff and Wire Reports
Liberty Financial to Acquire Colonial Group: The deal is valued at about $310 million in cash and stock. Colonial Group Inc. is the nation's 29th-largest mutual fund company with $14 billion in assets. Liberty Financial Cos., with about $29 billion in assets under management, is a subsidiary of financial services conglomerate Liberty Mutual Group. Liberty and Colonial are both based in Boston.
BUSINESS
June 5, 2001 | Associated Press
* General Mills Inc., the No. 1 U.S. cereal maker in terms of revenue, raised its cereal prices by an average of 2.1% to help combat higher costs. The price hike took effect May 31 and applies to most of the company's brands, which include Cheerios, Wheaties and Trix. * FleetBoston Financial Corp. agreed o acquire the asset management businesses of Liberty Financial Cos. for $900 million in cash. FleetBoston also will assume $110 million in revolving debt.
BUSINESS
February 8, 1994 | Associated Press
Books and publications dealing with children and money: * "The Kids' Money Book," by Neale S. Godfrey. * "Money Skills: 101 Activities to Teach Your Child About Money," by Bonnie Drew. * "Biz Kids' Guide to Success: Money-Making Ideas for Young Entrepreneurs," by Terri Thompson. * "If You Made a Million," by David M. Schwartz. * "The Mon$ter Money Book," by Loreen Leedy. * "The Go-Around Dollar," by Barbara Johnston Adams. * "Teach Your Child the Value of Money," by Harold and Sandy Moe.
BUSINESS
March 9, 1999 | Bloomberg News
U.S. investors will pay a record $40 billion in mutual-fund-related taxes from gains generated by their funds last year, according to estimates from fund companies. That's up 18% from the $34 billion investors paid to cover 1997 fund-related taxes, according to an estimate Monday from Colonial Group Inc. "Taxes on mutual funds keep going up," said James Blakeslee, who oversees tax strategies at Colonial, a unit of Boston-based Liberty Financial Cos.
BUSINESS
June 11, 1999 | Times Wire Services
* Online mortgage information provider E-Loan Inc. said Thursday that the estimated price range for its initial public offering of 3.5 million shares was lowered to $9 to $11 a share from $11 to $13. No reason was given by the Dublin, Calif.-based company, which gave the notice in an amended filing with the Securities and Exchange Commission. The stock's underwriters are Goldman Sachs, Donaldson Lufkin & Jenrette, and Hambrecht & Quist--marquee names for tech IPOs.
BUSINESS
July 28, 1998 | From Times Wire Services
American Express Co. said on Monday that double-digit gains in its travel-related services and financial advisor units pushed second-quarter profit up 11%, topping Wall Street estimates. The company said net income rose to $578 million, or $1.24 a diluted share, from $520 million, or $1.08 a year ago, beating consensus analysts' estimates by 2 cents. Revenue advanced 7.7% to $4.76 billion. The results boosted American Express shares, which closed up $5.75 at $112.
BUSINESS
July 12, 1993 | From Associated Press
Rules governing the sale of mutual funds by banks will soon be tightened to protect customers from mistakenly thinking their investments are federally insured, a top regulator said Sunday. Comptroller of the Currency Eugene A. Ludwig, whose Treasury Department agency regulates nationally chartered banks, said he will issue a policy "in the near future" governing mutual funds and other investments not guaranteed by the Federal Deposit Insurance Corp. "We will lean heavily on disclosure.
BUSINESS
April 12, 1993 | RUSS WILES, RUSS WILES, a financial writer for the Arizona Republic, specializes in mutual funds.
An account statement from your bank arrives in the mail. It contains bad news--and good. The bad news, of course, is that your certificate of deposit is about to mature, and you'll have to accept a yield of perhaps 3% or so if you want to renew it. But the good news is that a representative at your local bank branch would be more than happy to discuss various other investments offering a higher earnings potential. Sound familiar? It should.
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