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Rating:BlackRock Shares Dip On Chatter Surrounding Fink Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 29, 2007

BlackRock Shares Dip On Chatter Surrounding Fink

by: Armie Margaret Lee

BlackRock shares fell Monday amid the chatter that its chief executive, Larry Fink, may move on to Merrill Lynch to replace Stan O'Neal. Shares of BlackRock, the largest publicly traded money manager in the US, dropped from record highs, falling as much as 1.2 percent this morning, Reuters reported. By mid-day, however, the stock was off 0.73 percent at $196.99, according to the report.

BlackRock had been seeing its shares climb to new highs since the company came out with its third-quarter results two weeks ago.

Last Friday, media reports surfaced that Merrill CEO O'Neal's job was in jeopardy, and Fink's name came up as a possible successor. A report in today's Wall Street Journal called Fink "a top contender" to succeed O'Neal, citing people familiar with Merrill Lynch.  

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