Barclays accepts BlackRock offer to buy BGI
With CVC Capital Partners out of the picture, Barclays' board sanctions the deal and now awaits shareholder approval.
BlackRock has received written notice from British bank Barclays PLC that its board of directors has accepted the New York-listed fund house's offer to acquire its Barclays Global Investors (BGI) unit. Barclays will recommend the transaction to Barclays' shareholders for approval at a special meeting to be held in early August 2009.
Barclays' acceptance of BlackRock's offer came after private-equity firm CVC Capital Partners Group didn't match BlackRock's offer for BGI's excha…
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