LONDON: BlackRock has agreed to buy Barclays Global Investors (BGI) to create the world’s biggest asset manager, in a US$13.5bil deal that British bank Barclays hopes will put to rest concerns about its capital.
The cash-and-shares deal, unveiled in the United States late on Thursday, will see Barclays take a 19.9% stake and two seats on the board of the enlarged group, to be called BlackRock Global Investors.
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