The sale of Strong Financial is not complete yet, but Wells Fargo has emerged as the frontrunner, expected to pay less than $500 million, Reuters reports

However, there is still another bidder in the mix in Nuveen Investments, the Chicago-based municipal bond fund manager. A sale is still weeks away, according to ReutersÂ’ sources, but Wells has emerged as the likely suitor, as well as the better fit.

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