Sun Life Financial, the Canadian financial services company, said it will not sell its Boston-based money manager MFS Investment Management after failing to strike a deal at the right price.

Sun Life said is has not been able to reach a satisfactory deal and was not offered the right price for MFS. The unit was linked to both Wachovia and Mellon as potential bidders. MFS Investment Management is valued at about $3bn (€2.4bn).