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Hancock Said To Be In Talks With Manulife

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NU Online News Service, Sept. 26, 2003, 11:15 a.m. EDT – John Hancock Financial Services Inc., Boston, is in “advanced stages of negotiations” to be acquired by Manuflife Financial Corp, Toronto, according to a report in today’s Boston Globe.

Hancock chief executive, David D’Alessandro, has been boasting openly about his company’s financial strength, as if inviting bids, the Globe says.

Manulife, Canada’s second-largest life insurer, is also headed by someone named D’Alessandro. Its chief executive, Dominic D’Alessandro, is not related to Hancock’s CEO.

Hancock also has been in talks with executives of MetLife Inc., New York, about being acquired by that firm, the Globe says.