The Firm is representing Ameriprise Financial, Inc. in its acquisition of the long-term asset management business of Columbia Management from Bank of America for approximately $1 billion in cash. As of June 30, 2009, Boston-based Columbia managed approximately $93 billion in equity assets and $72 billion in fixed income assets.
The transaction is subject to customary regulatory reviews and approvals. It is expected to close in the spring of 2010.
The Simpson Thacher team includes: Gary Horowitz, Anthony Vernace, Ellen Rosenberg, Adam Booken, Dave Cooke and Ralph Eissler (M&A), Sarah Cogan, Rafael Vasquez and Jonathan Ozner (Investment Management), Greg Grogan, Beth Understahl and Samantha Shipp (Executive Compensation and Employee Benefits), Jason Vollbracht (Tax), Josh Levine, Craig Waldman and Meghan Cannella (Litigation), Scott Dyer (Labor), Lori Lesser and Marcela Robledo (Intellectual Property), Gary Rice (Bank Regulatory) and Joe Tringali and Michael Naughton (Antitrust).