In a final round of bidding for the acquisition of Zurich Scudder, Deutshe Bank has emerged as the frontrunner in the negotiations, which involve two other financial companies, according to a source close to the matter. A deal will be announced in mid-September, the source said. The other bidders include Amvescap Plc, and First Union Bank.
In April, Zurich Scudder hired Morgan Stanley Dean Witter and Goldman Sachs to conduct a search for strategic partners, said Joan Gallagher, a spokeswoman with the company. She declined further comment.