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Jun 16, 2009 0

BlackRock Agrees to Purchase BGI

On 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.
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