BlackRock Will Drop $14B for Barclays Unit

NEW YORK CITY-BlackRock will pay a combination of $6.6 billion and stock for the unit, giving Barclay's a 9.9% stake in the newly formed BlackRock Global Investors.

By Ryan Clark | June 12, 2009 at 08:40 AM

Bloomberg.com

Financing for the deal will combine $2.2 billion from an equity sale, $2 billion in loans from banks, as well as Barclays. The total assets of the final company will amount to $2.7 trillion.

BlackRock CEO Laurence Fink said, "This will bring the greatest sweep of products to our clients. This transaction is transformational."

To read the entire Bloomberg.com article, click here.

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