BlackRock just gobbled up Claymore Canada, as planned. In January
BlackRock unveiled a deal to buy the business from Guggenheim Partners
[see
MFWire.com, 1/11/2012], and on Wednesday the two parties sealed the
deal.
As of January 31, Claymore Canada boasted C$7.4 billion in 34 ETFs and two
closed-end funds, while the Canadian arm of BlackRock's iShares [profile] boasted C
$29.0 billion in 48 ETFs as of December 31. BlackRock expects to rebrand most
of the Claymore Canada products into iShares offerings.
The shareholders of the different Claymore Canada funds approved the deal on February 24 and March 6.
BlackRock Press Release
BlackRock Completes Acquisition of Claymore Investments
TORONTO, ONTARIO, Mar 07, 2012 -- BlackRock, Inc. today announced it has
completed its acquisition of Claymore Investments, Inc. from Guggenheim
Partners, LLC. As a subsidiary of BlackRock, Claymore will be integrated into
the BlackRock organization and is expected to operate under the BlackRock name.
It is also expected that most of the exchange-traded funds and closed end funds
managed by Claymore will be rebranded to iShares(R). In connection with the
closing of the transaction, the Independent Review Committee of the Canadian
iShares funds will be appointed to act in the same capacity for the Claymore
funds and the Claymore Advisory Board will not continue.
About BlackRock
BlackRock is a leader in investment management, risk management and advisory
services for institutional and retail clients worldwide. At December 31, 2011,
BlackRock's AUM was US $3.513 trillion. BlackRock offers products that span the
risk spectrum to meet clients' needs, including active, enhanced and index
strategies across markets and asset classes. Products are offered in a variety
of structures including separate accounts, mutual funds, iShares(R) (exchange-
traded funds), and other pooled investment vehicles. BlackRock also offers risk
management, advisory and enterprise investment system services to a broad base
of institutional investors through BlackRock Solutions(R). Headquartered in New
York City, as of December 31, 2011, the firm has approximately 10,100 employees
in 27 countries and a major presence in key global markets, including North and
South America, Europe, Asia, Australia, and the Middle East and Africa. For
additional information, please visit the Company's website at www.blackrock.com
.
About iShares ETFs
The iShares business is a global product leader in ETFs with over 460 funds
globally across equities, fixed income and commodities, which trade on 19
exchanges worldwide. The iShares funds are attractive to many individual and
institutional investors and financial intermediaries because of their relative
low cost, tax efficiency and trading flexibility. Investors can purchase and
sell securities through any brokerage firm, financial advisor, or online
broker, and hold the funds in any type of brokerage account. The iShares
customer base consists of the institutional segment of pension plans and fund
managers, as well as the retail segment of financial advisors and individual
investors.
Announcement on the Claymore Canada Website
On January 11, 2012, Claymore Investments, Inc. (“Claymore”), the manager of
the Claymore exchange traded funds, announced that BlackRock, Inc.
(“BlackRock”) entered into a definitive agreement with subsidiaries of
Guggenheim Partners, LLC (“Guggenheim”) to acquire all of Guggenheim’s interest
in Claymore (the “Transaction”). The Transaction closed on March 7, 2012. As of
March 7, 2012, Claymore is owned and controlled by BlackRock.
Subscribe to MFWire.com's News Alerts [click]
Email & Route 
Print 
Raw XML
