U.S. money manager Invesco may announce a deal to purchase Guggenheim Partners’ exchange-traded fund business on Thursday, the Financial Times reported on Wednesday, citing two people familiar with the matter.

Invesco is expected to pay between $1.1 billion and $1.3 billion in cash for the purchase, which has yet to be finalized, the newspaper said, citing the unnamed sources.

Guggenheim’s ETF business has around $30 billion in assets under management, while Invesco has $125 billion under management, making it the fourth largest ETF manager globally, the report said.

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