(Bloomberg) -- Canadian Imperial Bank of Commerce is weighing a bid for Frank Russell Co.’s asset management arm, a business London Stock Exchange Group is preparing to sell early next year, people with knowledge of the matter said.

LSE, which completed its purchase of Frank Russell this month, may fetch $1.3 billion to $1.5 billion for the investment-management business, said the people, who asked not to be identified because the information is private. LSE is working with Barclays and Greenhill & Co. on the sale process, the people said.

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