MutualFundWire.com: BlackRock Confirms That 'Negotiations Are Ongoing' With Barclays
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Monday, June 08, 2009|
BlackRock Confirms That 'Negotiations Are Ongoing' With Barclays
The BlackRock-Barclays Global Investors deal talks are now official. On Monday Larry Fink's New York-based money manager confirmed that "negotiations are ongoing" with the British bank while insisting that there is no final deal yet.
"There is no certainty that any transaction will be agreed upon, or, if agreed upon, completed," a BlackRock statement reads.
BlackRock's statement follows almost a month of media speculation about the fixed income giant's interest in Barclays' asset management business (which includes iShares). Most recently, on Friday the Financial Times reported that Barclays is about to sell BGI to BlackRock for between $11 billion and $13 billion (see MFWire, 6/5/2009).
Company Press Release
NEW YORK--Jun. 8, 2009-- BlackRock, Inc.(NYSE:BLK) confirmed that it has been engaged in discussions with Barclays Bank plc about BlackRock's potential purchase of Barclays Global Investors, including the iShares business. The negotiations are ongoing and there is no certainty that any transaction will be agreed upon or, if agreed upon, completed.
BlackRock is one of the world’s largest publicly traded investment management firms. At March 31, 2009, BlackRock’s AUM was $1.283 trillion. The firm manages assets on behalf of institutions and individuals worldwide through a variety of equity, fixed income, cash management and alternative investment products. In addition, a growing number of institutional investors use BlackRock Solutions investment system, risk management and financial advisory services. Headquartered in New York City and has employees in 21 countries and a major presence in key global markets, including the U.S., Europe, Asia, Australia and the Middle East. For additional information, please visit the Company's website at www.blackrock.com.
Source: BlackRock, Inc.
Bobbie Collins, 212-810-8155
Brian Beades, 212-810-5596
Printed from: MFWire.com/story.asp?s=21736
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