07:18 AM EDT, 10/21/2024 (MT Newswires) -- (Updates with response from PineBridge in the fifth paragraph.)

MetLife ( MET ) is in talks to buy PineBridge Investments' non-China assets in a deal that could be valued at $1 billion to $1.5 billion, Bloomberg reported on Monday, citing unnamed people familiar with the matter.

The talks are for assets under management totaling about $100 billion, Bloomberg reported.

MetLife ( MET ) has outbid other companies seeking to buy the assets and has entered into an exclusivity period allowing it to fine-tune its offer, the report said.

PineBridge, which is majority-owned by Hong Kong businessman Richard Li's Pacific Century Group, has been seeking to sell all but its China assets, which are part of a joint venture with Huatai Securities, the report said.

PineBridge declined to comment on what a spokesperson described as "market rumors or speculative reports."

MetLife ( MET ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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