Selected Merger Transactions Involving Asset Managers And Mutual Funds

The following is a representative list of mergers and acquisitions involving asset management firms and mutual fund clients handled by Morrison & Foerster attorneys:

Bank of America Corporation

• Bank of America Corporation acquired FleetBoston Financial Corporation, resulting in consolidations across the Nations Funds, Columbia Funds and Galaxy Funds.  The funds were rebranded under the Columbia name.
• NationsBank Corporation merged with Bank of America Corporation, resulting in the merger of Pacific Horizon Funds and World Horizon Funds into Nations Funds .
• NationsBank Corporation acquired Barnett Banks, Inc., resulting in the merger of Emerald Funds into the Nations Funds .
• NationsBank Corporation acquired Boatmen’s Bancshares, Inc., resulting in the merger of The Pilot Funds into the Nations Funds .
• NationsBank Corporation acquired Bank South Corporation, resulting in the merger of Peachtree Funds into the Nations Funds .

Wells Fargo & Company

• Wells Fargo & Company acquired assets from Strong Capital Management, resulting in the merger of Strong Funds into the Wells Fargo Advantage Funds.
• Wells Fargo & Company merged with Norwest Bank, resulting in the merger of the Norwest Advantage Funds and Stagecoach Funds into the Wells Fargo Funds .
• Wells Fargo & Company acquired SIFE Trust Fund, resulting in the merger of the Fund into Wells Fargo Funds .
• Wells Fargo Funds reorganized several of The Montgomery Funds into corresponding Wells Fargo Funds.
• Wells Fargo & Company acquired Brenton Bank, resulting in the merger of the Brenton Bank Funds into the Wells Fargo Funds .
• Wells Fargo & Company acquired First Security Corporation, resulting in Achievement Funds merging into Wells Fargo Funds .
• Wells Fargo & Company acquired First Commerce Bancshares, resulting in the merger of The Great Plains Funds into the Wells Fargo Funds .
• Wells Fargo & Company acquired First Interstate Bancorp, resulting in the merger of Pacifica Funds Trust into Stagecoach Funds .

John Hancock Financial Services Company

• John Hancock Financial Services Company was acquired by Manulife Financial Corporation.  The firm represents the Independent Trustees of the John Hancock Funds.

Bessemer Trust Company

• The firm represented Bessemer Trust Company in connection with acquisition of Brundage, Story and Rose, a registered investment advisor having in excess of $5 billion in assets under management. 
• The firm represented Bessemer Trust Company in connection with acquisition of minority nvestment in Glynn Asset Management, a well-known growth manager, with an option to acquire a controlling interest, and establishment of related funds.  

Progress Investment Management Company, Inc.

• The firm represented Progress Investment Management Company, Inc. in the buyout of Progress Investment Management Company, Inc. from Columbia Management Group, Inc.
• The firm represented Progress-Putnam Lovell Ventures, LLC in its acquisition of Class A Preferred Interests of Westcap Investors, L.L.C.
• The firm represented Progress-Putnam Lovell Ventures, LLC in its acquisition of limited partnership interests of Smith Graham & Co. Investment Advisors, L.P.

Other Companies

• The firm represented Organizer Systems, Inc. in the sale of its business to SunGard Investment Management Systems. 
• The firm represented SoundView Technology Group in its acquisition by Wit Capital.
• The firm represented Thomson Corporation in a joint venture to combine the trade settlement businesses of Thomson Financial/ESG and Depository Trust & Clearing Corporation.
• The firm represented the advisor to the Rushmore Funds in its acquisition by Friedman, Billings & Ramsey.
• H.F. Ahmanson & Company was acquired by Washington Mutual, Inc., resulting in the merger of Griffin Funds into the Washington Mutual Funds .
• The firm represented Frank Russell in its acquisition by Northwestern Life.
• The firm represented Zevenbergen Capital Management in its acquisition by SunTrust Banks, Inc.
• The firm represented mutual funds in connection with each of the following investment advisors that merged, underwent mergers, or other changes in control:
  • Chicago Equity Partners
  • Gartmore Global Partners
  • Kleinwort Benson
  • Marsico Capital Management