Wellington prepares $1.9 billion acquisition of Hartford Funds

Asset manager Wellington is preparing to acquire Hartford Funds in a $1.9 billion transaction. The deal would bring Hartford’s mutual‑fund business under Wellington’s control. Both companies have issued statements confirming the agreement. The acquisition is expected to expand Wellington’s product offerings. Regulators will review the transaction for compliance with financial rules. Shareholders of both firms are set to vote on the proposal. Analysts anticipate the deal could boost Wellington’s market presence. Closing of the purchase is targeted for later this year, pending approval.