Japan's MUFG to spend over $660 million to buy robo-adviser WealthNavi
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Japan's Mitsubishi UFJ Financial Group (MUFG) plans to acquire WealthNavi Inc, a robo-adviser, for approximately $664 million, making it a wholly owned subsidiary.
November 29, 2024 | 7:30 am
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Mitsubishi UFJ Financial Group (MUFG) is acquiring WealthNavi Inc for $664 million, aiming to expand its capabilities in automated asset management.
The acquisition of WealthNavi by MUFG is a strategic move to enhance its offerings in the growing field of automated asset management. This could positively impact MUFG's stock as it expands its technological capabilities and market reach.
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