Barclays Completes Secondary Offering of BlackRock Shares

June 11, 2012

On May 29, 2012, BlackRock, Inc. (NYSE: BLK) announced the completion of a secondary offering of all of the BlackRock common shares held by Barclays Bank and the closing of its repurchase of 6,377,552 shares from Barclays, completing Barclays’ exit from ownership in BlackRock.


On May 29, 2012, BlackRock, Inc. (NYSE:BLK) announced the completion of a secondary offering of 26,211,335 BlackRock common shares held by Barclays Bank PLC at $160 per share (see our 5/25/12 post).  BlackRock also announced the closing of its repurchase of 6,377,552 shares from Barclays for $156.80 per share.  The transactions, including the full exercise of the underwriters’ option to purchase additional shares in the secondary offering, resulted in the exit of Barclays’ entire ownership position in BlackRock.  BlackRock did not receive any proceeds from the sale of its shares.  BlackRock is a New York-based private equity firm with approximately $3.684 trillion in assets under management. 

To read the press release, please click here.  

The link to our 5/25/12 post - click here.   


Categories

Investment Manager Financings, Private Equity Financings, Transactions