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Allianz in talks to buy Pimco Advisors

Published on .

Munich--Allianz AG is in talks to buy Pimco Advisors Holdings, Newport Beach, Calif., for up to $4.4 billion. Pimco is the third-largest publicly traded U.S. money manager, with $159 billion in institutional assets under management. It is known as the foremost marketer of fixed income offerings to institutional investors. Allianz, an insurance holding company, said it would pay as much as $39 for each Pimco share. Pimco's stock price closed Monday at $32.75.
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