BlackRock to buy Barclays Global Investors for $13.5 billion

The offer from BlackRock includes the purchase of BGI's iShares business, unless CVC Capital Partners matches the offer.

New York-listed fund house BlackRock has offered to buy Barclays Global Investors BGI from British bank Barclays PLC for $13.5 billion in a deal that is expected to create the world's largest asset management company.

The resulting company -- BlackRock Global Investors -- will merge market leaders in active and index strategies and bring their combined assets under management to more than $2.7 trillion. While this figure represents only about 3% to 5% of the total...

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