ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.

On December 5, 2008 Federated Investors, Inc. (Federated) closed on a transaction to acquire certain assets of David W. Tice & Associates LLC that relate to the management of the $1.1 billion Prudent Bear Fund and the $363.8 million Prudent Global Income Fund (the Prudent Bear Funds). In connection with the acquisition, Federated will re-brand the Prudent Bear Funds as the newly created Federated Prudent Bear Fund and the Federated Prudent Global Income Fund. The acquisition was consummated pursuant to the terms of a definitive agreement between Federated and David W. Tice & Associates LLC dated July 14, 2008.

The transaction includes an initial cash purchase payment of $43 million, and a series of contingent payments totaling as much as $99.5 million over the next four years based on certain revenue growth targets. Various assets, primarily intangible assets, will be recorded upon completion of the independent appraiser's valuation. Both Federated and David W. Tice & Associates LLC have made customary representations, warranties and covenants in the agreement. In addition, certain covenants relating to non-competition and non-solicitation were made by David W. Tice & Associates LLC and certain key employees. Attached herewith as Exhibit 99.1 is a press release issued by Federated with additional details concerning this transaction.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(b) Pro Forma Financial Information.

The information required by this item is not being furnished herewith, but will be furnished with the Securities and Exchange Commission via amendment as soon as practicable, but not later than 71 calendar days after the date on which this Current Report on Form 8-K was required to be filed.

(d) Exhibits.

Exhibit 99.1 - Press release issued by Federated Investors, Inc. dated December 9, 2008

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