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Barclays officially accepts Blackrock offer for BGI

BlackRock has received written notice that the Barclays board has accepted its offer to acquire Barclays Global Investors.

The transaction is expected to close in the fourth quarter following approval by Barclays’ shareholders, the receipt of client consents and regulatory approvals, and satisfaction of customary closing conditions.

Money Marketing revealed last week that Blackrock had agreed to purchase BGI for £4bn in cash and a 19.9 per cent stake in the new business.

The deal includes the purchase of Barclays ETF business iShares and would see the combined business increase its assets under management to £1.6trn.

In addition to the cash, Barclays will receive 37.784m shares in the new company worth £4.2bn, valuing the deal at £8.2bn.

The new company will be called Blackrock Global Investors and will employ 9,000 people in 24 different countries.


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Albion Ventures is hoping to raise £25m for the launch of a new share class on its Development Venture Capital Trust (VCT).This is the first fund raising by the firm this year.Albion Development invests in small unquoted companies, structuring investments so as to reduce the risks normally associated with buying into such companies.The ‘d’ share […]

Troy’s thoroughbred

Few fund houses can claim to be named after a horse but Troy Asset Management’s inspiration boasts a victory in the 1979 Epsom Derby.

The fifteen-year itch

By Neil Jones Technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The treatment of non-UK domiciles that are resident in […]


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