http://www.nytimes.com/aponline/2009/06/12/business/AP-US-BlackRock-Barclays.html?_r=1 Ending weeks of speculation, U.S. investment manager BlackRock Inc. said Thursday it will purchase the asset management arm of British investment bank Barclays PLC for $13.5 billion in cash and stock, to become the world's largest asset manager. Barclays Global Investors, active in both in the index and... [more]
http://www.nytimes.com/aponline/2009/06/12/business/AP-US-BlackRock-Barclays.html?_r=1
Ending weeks of speculation, U.S. investment manager BlackRock Inc. said Thursday it will purchase the asset management arm of British investment bank Barclays PLC for $13.5 billion in cash and stock, to become the world's largest asset manager.
Barclays Global Investors, active in both in the index and exchange-traded funds markets, had approximately $1.5 trillion of assets under management as of Dec. 31 and 3,000 institutional clients. New York-based BlackRock, which will pay $6.6 billion in cash plus 37.8 million shares currently worth about $6.9 billion, said its takeover of BGI will create a firm with combined assets under management of more than $2.7 trillion and a market cap of more than $34 billion.
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