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BlackRock's Buy of Barclays Unit Nears
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BlackRock's(BLK Quote) expected deal to buy Barclays Global Investors from U.K. bank Barclays(BCS Quote) is likely to be announced as early as Thursday, the Wall Street Journal reports, citing people close to the matter.
Money manager BlackRock is expected to pay about $13 billion for the asset-management unit, and Barclays could retain about a 20% stake, the Journal and other reports this week have said.
Barclays could get a seat on BlackRock's board as part of the deal, the Journal reports. BlackRock is expected to fund a portion of the purchase from sovereign funds in the Middle East. ...
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