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T. Rowe Price buys Caterpillar's assets

Published: Feb. 22, 2006 at 2:03 PM

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Caterpillar, Inc.

CHICAGO, Feb. 22 (UPI) -- Baltimore-based T. Rowe Price Associates is buying the mutual funds business of construction equipment maker Caterpillar Inc.

The price was not disclosed, but closing is set for June, Crain's Chicago Business said Wednesday.

T. Rowe Price intends to fold the Illinois-based company's Preferred Group of Mutual Funds, which manages about $3 billion, into 10 of its existing funds.

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