By Mike Stone

(Reuters) – State Street Corp is nearing a deal to acquire General Electric Co’s $115 billion asset management business, according to people familiar with the matter, as the U.S. industrial conglomerate continues to shed unloved assets.

State Street, a Boston-based asset manager, has prevailed over other bidders, including Goldman Sachs Group Inc , for the business, and is now in the final stages of negotiating a deal with GE, the people said this week.

An agreement could come as early as this month and value GE’s asset management business at as much as $500 million, the people added, read more >>>

Source : BusinessInsider.Com