MFS no longer on the market

What's going on? It was big news just a few weeks ago that Sun Life had put MFS Financial on the block. The parent company has pulled an about face and now says it will not pursue any deals or strategic partnerships. We are left to believe that it will spruce up the unit on its own and perhaps try again later. Wachovia was reportedly in talks to enter some sort of venture. The word was that the two sides could not agree on a price and other parameters. This may have some implications for Putnam, which is also thought to be in play. Basically, firms with a yen to buy a fund firm may be facing one less possibility. Then again, the bloom may be off the mutual fund rose.

For more on this announcement:
- Here's an MarketWatch article
- Looking back: Sun Life shops MFS. Article