MutualFundWire.com: Barclays Pockets an Extra $1.7 Billion from the BlackRock Deal
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Wednesday, December 2, 2009

Barclays Pockets an Extra $1.7 Billion from the BlackRock Deal


Thanks to a rise in BlackRock's share price, Barclays took in an additional $1.7 billion from the sale of its Barclays Global Investors unit to the New York City-based asset manager.

The deal closed on Tuesday.

When the transaction was unveiled in June, the price tag was $13.5 billion. On Tuesday, Barclays said the consideration at completion was $15.2 billion.

Barclays expects to book a net gain of $9.7 billion.


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