Barclays' board of directors has accepted BlackRock's offer to acquire Barclays Global Investors.
Barclays' board of directors has accepted BlackRock's offer to acquire Barclays Global Investors.
Barclays will recommend the transaction to shareholders for approval at a special meeting to be held in early August 2009.
The acceptance of BlackRock's offer followed satisfaction of the provisions required under a 'go-shop' arrangement with respect to an offer previously received by Barclays for iShares, BGI's exchange-traded fund platform.
The transaction is expected to close in the fourth quarter 2009 following approval by Barclays' shareholders, the receipt of client consents and regulatory approvals, and satisfaction of customary closing conditions.
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