Barclays Global Investors
may sell at any moment. The Financial Times
' Paul Murphy and Neil Hume report
that Barclays is about to sell BGI (including iShares
) to BlackRock
for between $11 billion and $13 billion.
Such a deal would trump the $4.4 billion offer CVC Capital Partners
's Blue Sparkle
unveiled in in April for iShares alone (see MFWire, 4/9/2009
). Yet, FT reports that Barclays would have to pay the private equity firm $175 million if the bank pulls out of the deal.
The move by BlackRock chief Larry Fink
comes as no surprise. Last month both the FT and the Wall Street Journal
linked the fixed income giant to the BGI sale (see MFWire
Neil Anderson, Managing Editor
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