T. Rowe Price to Acquire F/m Investments, Doubling Fixed-Income ETF Assets
TROW sits 32% above its 52-week low of $85.22 on light trading volume (0.4× avg).
Summary
T. Rowe Price agreed to acquire F/m Investments, a fixed-income ETF manager with $19 billion in assets, more than $10 billion of which are in 20 ETFs. The deal would more than double T. Rowe Price's fixed-income ETF assets from $6.5 billion, addressing a key gap in its $220 billion fixed-income business. The acquisition is expected to increase T. Rowe Price's fixed-income assets under management by nearly 9%. Terms were not disclosed. The transaction is expected to close in early 2027. This follows Goldman Sachs' recent ETF acquisitions, signaling accelerating consolidation in the $15.7 trillion U.S. ETF industry.
At the time of this announcement, TROW was trading at $112.24 on NASDAQ in the Finance sector, with a market capitalization of approximately $23.9B. The 52-week trading range was $85.22 to $122.00. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: Reuters.