BlackRock to buy Barclays arm

LOS ANGELES – AFTER weeks of speculation, US investment manager BlackRock Inc said on Thursday it will purchase the asset management arm of British investment bank Barclays PLC, including its iShares division, for US$13.5 billion (S$19.56 billion) in cash and stock.

Barclays Global Investors is the world’s largest asset manager with more than 3,000 institutional clients and approximately US$1.5 trillion

of assets under management as of Dec 31.
Go to Source

More Information: