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NEW YORK CITY-BlackRock, Inc. will purchase Barclay’s investment unit for a total of $13.5 billion, according to Bloomberg.com. BlackRock will pay a combination of $6.6 billion and stock for the unit, eventually giving Barclay’s a 9.9% stake in the newly formed company to be called BlackRock Global Investors.

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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