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Rating:Diamond Lets Go of BlackRock Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, May 21, 2012

Diamond Lets Go of BlackRock

News summary by MFWire's editors

Less than three years after selling Barclays Globals Investors to BlackRock [profile], Barclays Plc is selling its $6.1 billion stake in BlackRock. Bloomberg and Dow Jones both reported on the move.

According to Bloomberg, the value of the holding has dropped 24 percent since the deal closed in December 2009. Larry Fink and his team will snap up $1 billion of Barclays' shares, with the rest going on the open market. Barclays CEO Robert Diamond will also leave BlackRock's board of directors. 

Edited by: Neil Anderson, Managing Editor


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