Morning M&A: Hertz Buys Niche Business, Vultures Circle Deutsche Bank
Yesterday Hertz (NYSE:HTZ) announced it has bought lighting rental provider Cinelease in a move to broaden its presence in a specialty market with stronger revenue growth and margins. The financial terms of the deal weren’t released.
JPMorgan (NYSE:JPM), State Street (NYSE:STT) and Ameriprise Financial (NYSE:AMP) are reportedly some of the finalists in the bidding for Deutsche Bank’s (NYSE:DB) global asset management division. Deutsche sees the sale bringing in more than €2 billion ($2.6 billion).