Pimco Advisors Delays Vote on Allianz Offer

Pimco Advisors Holdings LP, the biggest U.S. bond fund manager, delayed until April 28 its vote on Allianz AG’s $3.3-billion offer to buy 70% of the company, said Ken Poovey, Pimco’s chief operating officer. Shareholders of the Newport Beach company had been scheduled to vote March 24, but Pimco postponed the vote because of a delay in comments on the proposed purchase by the U.S. Securities and Exchange Commission, Poovey said. Allianz, based in Munich, Germany, is Europe’s largest insurer. It is paying the second-highest price ever for a money manager.