MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, June 5, 2009 BlackRock Nears Deal for BGI, FT Reports 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, 5/15/2009 and 5/18/2009). Printed from: MFWire.com/story.asp?s=21730 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |