Cathay Financial To Acquire US Investment Firm Conning For $240M

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Cathay Financial Holding Co., Ltd., Taiwan’s largest financial holding company, says that its board has approved the acquisition of U.S. investment management company Conning Holdings Corp. for up to US$240 million, according to a joint announcement.

The deal is part of Cathay’s strategic drive to build a full-service financial platform with businesses in asset management, banking and insurance.

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