Tuesday, 7 July 2015
Last updated 2 hours ago
Apr 14 2009 | 10:03am ET
Private equity firm CVC Capital Partners has agreed to buy Barclays’ iShares exchange-traded fund business, and may be willing to sell its entire asset management unit, according to reports.
Under the deal with CVC, Barclays has until June 18 to find a better offer for iShares, or an offer for Barclays Global Investors as a whole, according to The Sunday Telegraph. As part of the so-called “go-shop” clause, Barclays “has indicated its willingness to listen to offers for Barclays Global Investors.”
If no better deal is found, CVC gets iShares for £3 billion (US$4.42 billion).
According to The Telegraph, any offer for BGI would have to be at least £8 billion (US$11.8 billion). San Francisco-based BGI manages more than £1 trillion (US$1.47 trillion), and is the 10th-largest hedge fund manager in the world, according to Absolute Return magazine, with $17 billion in assets under management.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…