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 |
|
Thursday, August 26, 2004 The Price is Nice for BlackRock The New York money manager gets its retail wish as BlackRock pulled the trigger to buy MetLife's State Street Research unit for $325 million in cash and $50 million in stock Thursday morning. The deal is set to close in early 2005. BlackRock manages $310 billion in assets, approximately $79 billion of which is in mutual fund assets. The company is majority-owned by PNC Financial. Boston-based State Street Research & Management manages approximately $11 billion in mutual fund assets and $52 billion in total assets. Word of negotiations between BlackRock and MetLife first leaked into Boston papers last week. Printed from: MFWire.com/story.asp?s=7889 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |