BlackRock agreed on Thursday night to pay $13.5bn in cash and shares to buy Barclays Global Investors in a deal that will make the US money manager the world’s biggest - with more than $3,000bn in assets under management. Under the deal, Barclays will own nearly 20% of BlackRock, while Bank of America’s existing stake – acquired in its purchase of Merrill Lynch – would drop to just under 35% from the current 49%. More FT analysis here.
