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Thursday, November 17, 2005

BlackRock Still Shopping

by: Armie Margaret Lee

Talk about wrong timing. BlackRock was on the verge of making an acquisition for its BlackRock Solutions division but eventually abandoned its plan, fearing that the move might not sit well with shareholders, Reuters reports.

This was because the near acquisition took place at around the same time as the New York-based firm’s purchase of State Street Research & Management and the idea of having two acquisitions at once may cause some shareholders to be unhappy, Laurence Fink, BlackRock’s chairman and CEO, said at a Merrill Lynch conference.

But the scuttled plan has not dampened the investment giant’s appetite for future acquisitions. Fink let it be known that the company continues to be on the lookout, and that there are “three or four” currently on its radar. 

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