Pimco Said To Be Looking To Be Acquired
July 12, 1999
Although Mutual Fund Market News reported last month that PIMCO Advisors Holdings of Newport Beach, Calif., has formed a new global unit to manage its international offices, there were reports last week that PIMCO is now looking to be acquired by an international firm because it is dissatisfied with its U.S. growth.
"There is a real push at our company to go around the world" Mark Porterfield, a spokesperson at PIMCO said recently (MFMN 6/21/99).
PIMCO is speaking with Allianz of Germany about a sale, according to The Wall Street Journal.