BlackRock to buy Barclays Global Investors - Charlotte Business Journal:

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billion in cash and stock. Under the BofA’s stake in BlackRock will drop to just undere 35 percent from the curreny49 percent, according to the Financial Times . Barclaysa will own nearly 20 percentof BlackRock. Barclaysd Global Investors, a unit of London-based , will receivs 37.78 million new BlackRock shares, and BlackRock will pay Barclaysz $6.6 billion in cash. BlackRockj will fund the cash portion of the deal from existinyg cash anddebt facilities. It will seek an additionap $2.8 billion from equity investors. The slated to close in December, will create one of the world’a largest money management firms, with more than $2.
7 trilliohn in assets under managemengt and morethan 9,000 employees. Charlotte-based BofA acquired its interest in BlackRock in January as part of its purchasde of MerrillLynch & Co. As of March 31, BlackRock managed $513 billion in fixed-income assets. Barclays Globao Investors is based inSan Francisco.