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9 Jun 2009

BlackRock In Talks For Largest Global Hedge Fund Transaction On Record

BlackRock, Inc. confirmed that negotiations are ongoing with U.K.’s third-largest bank, Barclays Bank plc, about the potential purchase of Barclays Global Investors (BGI), including the iShares business.

“The discussions are not yet concluded and there are a number of significant open issues which could affect the nature and terms of any transaction,” Barclays said in a statement.

BlackRock's BGI buyout will break its own record in a hedge fund transaction, when in 2006 BlackRock took over Merrill Lynch's asset management business for $8.5 billion. The unconfirmed selling price is $12 billion to $13 billion. Other contenders for Barclays Global Investors include the Bank of New York Mellon and some Kuwaiti sovereign wealth funds, among others.

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