BlackRock Completes Merger with Barclays Global Investors
New York, December 1, 2009 - BlackRock Inc. (NYSE:BLK) today announced that it has completed its merger with Barclays Global Investors ("BGI"), including the market-leading iShares exchange traded funds business. The combined firm will operate under the BlackRock name and the iShares brand will be retained.
For further information read the Press Release
Barclays Shareholders Approve Transaction
August 6, 2009 - On August 6, 2009, Barclays shareholders approved the proposed sale of Barclays Global Investors ("BGI") to BlackRock Inc. ("BlackRock").
BlackRock had previously announced on June 16, 2009, that it had received written notice from Barclays that its Board of Directors had accepted BlackRock’s offer to acquire BGI.
This shareholder approval is an important step toward closing the transaction, which is expected to close in the fourth quarter of 2009 following the receipt of client consents and regulatory approvals, and satisfaction of customary closing conditions.
Barclays Accepts BlackRock Offer to Acquire BGI
New York, June 16, 2009 - BlackRock, Inc. announced that it has received written notice from
Barclays PLC (“Barclays”) that Barclays’ Board of Directors has accepted BlackRock’s offer to acquire Barclays
Global Investors (“BGI”). Barclays also notified BlackRock that its Board 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 followed satisfaction of the provisions required under a “go-shop”
arrangement with respect to an offer previously received by Barclays for iShares, BGI’s ETF platform.
The transaction is expected to close in the fourth quarter 2009 following approval by Barclays’ shareholders,
the receipt of client consents and regulatory approvals, and satisfaction of customary closing conditions.
For further information read the Press Release
BlackRock Agrees to Acquire Barclays Global Investors, Including its Market-Leading iShares Business
New York, June 11, 2009 - BlackRock announced it has agreed to acquire Barclays Global Investors (“BGI”), including its market-leading iShares ETF platform, from Barclays PLC. The combination of BlackRock and BGI would result in two market leaders in active and index strategies, forming one fully-integrated and independent asset management firm that will operate under the name BlackRock Global Investors (“BlackRock”). The transaction is expected to be completed in the fourth quarter of 2009, subject to necessary shareholder and regulatory approvals and other customary closing conditions, with the initial integration of both firms' operations shortly thereafter.
Barclays previously entered into an agreement to sell BGI’s iShares business to another party. Unless Barclays receives an offer from that party within five business days which considers to match the terms of BlackRock’s agreement to acquire BGI, the Board of Directors of Barclays will execute the purchase agreement with BlackRock and recommend it to Barclays’ shareholders for approval.
For further information read the Press Release