STT State Street Corporation

Australian bank Macquarie Group Ltd. (MQG.AU) is competing to buy Deutsche Bank AG's (DB) asset management divisions, Bloomberg News reported Wednesday on its website, citing two unnamed sources.

The deadline for second-round offers is next week, and Deutsche Bank is aiming to reach an agreement by mid-March, the report quoted the sources as saying.

It was earlier reported in January that other bidders include State Street Corp. (STT), JPMorgan Chase & Co. (JPM) and Ameriprise Financial Inc. (AMP), and the German bank is hoping to fetch about EUR2 billion ($2.6 billion) for the business.

A Macquarie spokeswoman and a spokesman from Deutsche Bank both declined comment, the report said.

Full Story: http://www.bloomberg.com/news/2012-01-31/macquarie-group-is-said-to-compete-for-deutsche-bank-asset-management-unit.html