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  • Wed, Sep. 21, 4:37 PM
    • Shares of TerraForm Power (NASDAQ:TERP) spiked into the close for a 4.4% gain following a Bloomberg report that BlackRock (NYSE:BLK) has joined a list of potential buyers for the company.
    • BLK, which owned 5.3% of TERP’s class A shares as of June 30, would be joining several investors including Brookfield Asset Management (NYSE:BAM), Appaloosa Management and China's Golden Concord Holdings as possible bidders, according to the report.
    • “If investors believe TerraForm can transition to a competently managed company freed of its ties to SunEdison, it would be a natural institutional target amidst the global search for yield,” a Bloomberg analyst says.
    • TERP and fellow SunEdison (OTCPK:SUNEQ) yieldco TerraForm Global (NASDAQ:GLBL) said earlier this week that they were seeking to sell their entire businesses or operate independently.
    | Wed, Sep. 21, 4:37 PM | 47 Comments
  • May 22, 2014, 6:19 PM
    • AstraZeneca’s (AZN) largest shareholder, BlackRock (BLK), wants the drugmaker to renew its talks with Pfizer (PFE) about a potential deal at a later date, NYT's DealBook reports.
    • BlackRock reportedly has told AZN’s board that it supports the decision not to accept PFE's latest offer, which valued AZN at ~$117B, but would prefer the companies engage in further talks as soon as three months from now, when certain restrictions would expire under British takeover rules.
    • Under British takeover rules, PFE wouldn’t be able to come back with another offer for AZN for six months time following Monday’s deadline, although it could offer a higher price in three months if AZN’s board agreed to talks.
    | May 22, 2014, 6:19 PM | 2 Comments
  • Dec. 16, 2013, 2:51 AM
    • BlackRock (BLK) holds 7.783% of Telecom Italia's (TI) voting stock, news agency ANSA reports, having almost doubled its total stake last month to 10.1% from 5.1%. The private-equity firm also holds 0.006% in TI ADRs, as well as convertible bonds.
    • BlackRock's disclosure comes ahead of a special shareholder vote on Friday over the composition of TI's board amid accusations of conflicts of interest involving Telefonica (TEF), a major TI stockholder. Of particularly concern is that TI's TIM Participacoes Brazilian unit competes with Telefonica, causing regulators to demand that TI sell the subsidiary.
    • Update: BlackRock says its voting stake in TI was 7.789% as of yesterday. The P-E firms also owns €183M ($252M) in TI convertible debt, equivalent to a holding of 1.639%.
    | Dec. 16, 2013, 2:51 AM
  • Mar. 13, 2013, 11:59 AM

    The expanded ETF deal between BlackRock (BLK) and Fidelity has Chuck Jaffe pondering the possibility of privately-held Fidelity going on the block at some point. BlackRock would be a natural buyer as it makes strategic sense and the company is one of just a few able to pull off a deal of this size.

    | Mar. 13, 2013, 11:59 AM
  • Jan. 10, 2013, 1:12 PM
    Confirming yesterday's report, BlackRock (BLK) has indeed bought Credit Suisse's $17.6B AUM ETF unit, thus adding Europe's 5th-largest ETF business to its already #1 position. The purchase of the Swiss unit comes just 3 months after BlackRock hired itself a rainmaker: Former SNB chief Philipp Hildebrand.
    | Jan. 10, 2013, 1:12 PM | 1 Comment
  • Oct. 22, 2012, 1:24 PM

    Credit Suisse's (CS) $17B European ETF business is on the block, with bids already in from BlackRock (BLK) and State Street (STT), according to Reuters. A win would beef up State Street's puny offerings in the region, or add to BlackRock's already dominant presence.

    | Oct. 22, 2012, 1:24 PM
  • Oct. 21, 2012, 3:24 AM
    Credit Suisse (CS) is auctioning its $17.2B European exchange-traded fund unit and has received offers from BlackRock (BLK), State Street Global Advisors (STT) and other, Reuters reports. A deal with BlackRock could raise antitrust concerns given the U.S. firm's 40%+ hold of the $309B European market. The sale by CS is part of its efforts to raise capital to meet new regulatory rules.
    | Oct. 21, 2012, 3:24 AM
  • Jul. 3, 2012, 7:03 AM

    BlackRock (BLK) picks up Swiss Re's $7.5B AUM private equity arm, taking advantage as the insurer streamlines its business in the face of new regulations on risk asset holdings. Terms of the all-cash deal were not disclosed, but BlackRock expects it to close in Q3 and for it to be neutral to modestly accretive for 2012 earnings. (PR)

    | Jul. 3, 2012, 7:03 AM
  • Jun. 12, 2012, 8:51 AM

    BlackRock (BLK) attracts a number of proposals to acquire or help restructure its underperforming Australian property trust, which has assets of A$468M ($464.75M) but needs cash to meet redemption demands. Blackstone (BX) is at the forefront of the bidders to take over the trust.

    | Jun. 12, 2012, 8:51 AM
  • May 23, 2012, 5:19 AM
    Barclays (BCS) raised a net $5.5B from the divestment of its 19.6% stake in BlackRock (BLK), selling 26.2M shares to money managers for $160 each and 6.38M shares to BlackRock for $156.80. There's also a greenshoe option of 2.6M shares. The sale will increase Barclays' Tier 1 capital ratio by about five basis points as it looks to meet Basel III requirements.
    | May 23, 2012, 5:19 AM
  • May 22, 2012, 9:01 AM
    BlackRock (BLK), along with Waddell & Reed (WDR) and Norway's SWF purchase a 20% stake in Formula One Group from CVC Capital Partners for $1.6B ahead of its Singapore IPO (expected next month).
    | May 22, 2012, 9:01 AM
  • May 21, 2012, 6:27 AM

    Barclays (BCS) plans to sell its $6.1B stake in BlackRock (BLK) via an offering and a related buyback by the U.S. asset manager of up to $1B in shares. Barclays' holdings represent a 19.6% economic interest in the firm. (PR)

    | May 21, 2012, 6:27 AM
  • Mar. 25, 2012, 4:36 AM

    New U.K. banking firm NBNK will tomorrow make a sweetened £1.5B bid for 632 branches being sold by Lloyds (LYG), The Daily Telegraph reports. The new offer will come amid worries that the proposed £1.4B sale of the outlets to Co-op has hit regulatory problems. NBNK's investors include Blackrock (BLK), Invesco (IVZ) and Aviva (AV).

    | Mar. 25, 2012, 4:36 AM
  • Jul. 20, 2011, 7:52 AM
    Anglo Irish's U.S. real-estate loan portfolio could pick up $7-$8B in an upcoming auction, with Goldman Sachs (GS), Deutsche Bank (DB) and Blackstone (BX) reported to have tentatively teamed up to buy the assets. A group including AIG (AIG) and BlackRock (BLK) is also interested.
    | Jul. 20, 2011, 7:52 AM