Seeking Alpha
 

Barclays PLC (BCS)

- NYSE
  • Sun, May 31, 12:27 PM
    • In February, Stifel (NYSE:SF) agreed to acquire Sterne Agee for $150M. Sterne Agee has about 730 brokers; together with those now working at Barclays Wealth Americas, it would bring Stifel's brokerage force to more than 3,000.
    • Barclays' unit is the former brokerage arm of Lehman Brothers.
    • Barclays has been reaching out to potential acquirers for the business for several weeks because it views it as non-core.
    • Source
    | Comment!
  • Sep. 10, 2014, 5:16 AM
    • Standard & Poor's (NYSE:MHFI) and Markit (NASDAQ:MRKT) have been narrowed down as the final bidders for Barclays' (NYSE:BCS) index business, which could go for more than $1B. Sources tell Reuters that a winner can be announced within weeks.
    • Barclays launched the auction of its Index, Portfolio and Risk Solutions business this summer, which contains a basket of more than 98 major indexes, including the well-known U.S. Aggregate Bond Index.
    • Previously: Bloomberg, Markit eyeing Barclays' fixed-income index unit
    | 4 Comments
  • Sep. 1, 2014, 2:11 AM
    • Caixabank (OTCPK:CAIXY) has announced that it will buy Barclays’ (NYSE:BCS) Spanish operations, including its retail bank, wealth management business and commercial banking business for €800M ($1.1B).
    • The deal will cement Caixabank’s position as the largest retail bank in Spain by adding 250 branches and 550K new clients, along with assets worth €21.6B.
    • The acquisition will not include Barclays' Spanish credit card and investment banking arms.
    | Comment!
  • Nov. 21, 2013, 3:19 PM
    • Nearly $2.3T in ETPs and mutual funds track Barclays (BCS +3%) indexes, making the bank the 2nd biggest provider after S&P, according to Lipper. Among the crown jewels is the U.S. Aggregate Bond Index (ETF: AGG) which Barclays purchased from Lehman amid the financial crisis.
    • The possible purchase was MSCI's (MSCI +1.5%) idea, reports Reuters, and Barclays hasn't yet decided to sell the unit, and - if it did - could seek other suitors.
    • "MSCI would be a natural buyer for that business since they need more fixed income," says one ETF executive who's regularly on the horn to index providers to expand their offerings. The ETF price war has put pressure on MSCI as its fund provider clients look to cut costs. About a year ago, Vanguard sent MSCI tumbling when it announced the pulling of about 24 funds away from benchmarks provided by MSCI (the stock has recovered very nicely).
    | Comment!
  • Sep. 22, 2013, 2:52 AM
    • Blackstone (BX) has reportedly acquired the Hughes Center complex in Las Vegas for $347M from Crescent Real Estate Holdings, a joint venture between Barclays Capital (BCS) and Goff Capital Partners.
    • The Hughes Center comprises 1.5M square feet and includes office space, a hotel, restaurants and corporate residential facilities. Blackstone is buying the property despite a 22% vacancy rate, which is on a par with Southern Nevada, an area that was badly hit by the financial crisis.
    | Comment!
  • Sep. 12, 2013, 2:42 AM
    • Verizon Communications (VZ) received orders for $100B of new bonds from over 1,000 investors as it sold $49B worth of debt in the largest corporate-bond offering in U.S. history.
    • Everyone seems to have emerged happy from this deal. Verizon received a huge chunk of the money it needs - and at relatively low rates - to pay for the $130B acquisition of Vodafone's 45% stake in Verizon Wireless; the banks involved made $265M in fees, with Barclays (BCS), JPMorgan (JPM), Bank of America (BAC) and Morgan Stanley (MS) each earning about $41M; and investors received a higher-yielding debt from a strong U.S. company.
    | 2 Comments
  • Sep. 3, 2013, 4:25 AM
    • Verizon Communications (VZ) has reportedly started syndicating a $61B one-year bridge loan that will support the company's $130B acquisition of 45% of Verizon Wireless from Vodafone.
    • Verizon intends to help pay for the deal with $49B in bonds and $14B in other debt, but might need the bridge loan if it can't issue the bonds by the time the transaction closes, which is expected in Q1 2014. The $63B in funding will replace the bridge loan.
    • JP Morgan (JPM), Morgan Stanley (MS), Bank of America (BAC) and Barclays (BCS) are leading the financing and underwriting the deal.
    • Meanwhile, Verizon has no plans to enter the Canadian market. The carrier had been linked with a couple of struggling wireless start-ups. The news should be positive for Canada's three largest telecom operators - BCE (BCE), Rogers Communications (RCI) and Telus (TU) - whose shares tumbled in response to Verizon's expansion plans in Canada and then climbed on initial reports of the Vodafone deal.
    | 1 Comment
  • Feb. 1, 2013, 6:00 AM
    The deal to take Dell (DELL) private could reportedly be finalized over the weekend and announced on Monday. As already speculated, Michael Dell will gain majority control, while Silver Lake and Microsoft (MSFT) will become minority shareholders, although there's no word on the final price. Barclays (BCS), Bank of America (BAC), Credit Suisse (CS) and RBC Capital (RY) will provide $15B of debt financing.
    | 2 Comments
  • Oct. 31, 2012, 5:13 AM
    Phillips-Van Heusen (PVH) agrees to acquire Warnaco (WRC) for about $2.9B in cash and stock in a deal that "reunites the House of Calvin Klein." Based on PVH's last closing stock price, the deal is worth $68.43 a share, representing a 34% premium over Warnaco's close on Friday. PVH has also received commitments for $4.33B in financing from Barclays (BCS), BofA (BAC) and Citigroup (C), some of which PVH will use for the merger. (PR)
    | Comment!
  • Oct. 9, 2012, 6:18 AM
    Barclays (BCS) agrees to acquire ING Direct U.K., with the British bank taking on deposits of £10.9B and mortgages of £5.6B, as well as 1.5M customers and 750 employees. The mortgage book has a loan-to-value ratio of 50% as of Aug 31, with Barclays paying a 3% discount but buying the deposit book at par. ING (ING) is taking a €320M after-tax loss on the sale. (PR: Barclays, ING)
    | Comment!
  • Sep. 13, 2012, 8:41 AM
    Barclays (BCS) sells a 60% stake in U.K. student housing company University Partnerships Programme (UPP) to Holland's PGGM in deal estimated at £840M. Barclays is now considering selling the other 40% in UPP, Reuters reports, as it looks to exploit the strong investor demand for student accommodation.
    | Comment!
  • Jun. 6, 2012, 8:52 AM
    Barclays' (BCS) South African unit, Absa (AGRPY.PK), agrees to acquire a private-label store card portfolio of clothing and footwear retailer Edcon for 10B rand ($1.2B). While the deal is for Edcon's South African ops, Absa also intends to buy the retailer's assets in neighboring countries.
    | Comment!
  • May 28, 2012, 4:39 AM
    Barclays (BCS) agrees to sell a portfolio of 23,500 German apartments with a value of €1.24B ($1.55B) to real-estate group Deutsche Wohnen (DWHHF.PK). Steadily rising prices over the last couple of years have attracted investors to the German property market, whose health stands in stark contrast to that of Spain and Ireland.
    | Comment!
  • May 25, 2012, 6:54 AM
    Lehman Brothers (LEHMQ.PK) confirms a report that it has agreed to buy the 26.5% stake it doesn't own in Archstone from Bank of America (BAC) and Barclays (BCS) for $1.58B. As expected, Sam Zell's Equity Residential (EQR), which was also battling for the apartment giant, will receive a $150M break-up fee from Lehman and the two banks.
    | Comment!
  • May 24, 2012, 6:16 PM
    Lehman Brothers (LEHMQ.PK) strikes a deal to buy the 26.5% stake it doesn't already own in apartment giant Archstone from BofA (BAC) and Barclays (BCS) for $1.58B, WSJ reports, ending the high-stakes chess game between Lehman and Sam Zell's Equity Residential (EQR). But Zell won't walk away empty handed, as his firm will get $150M in the deal.
    | 8 Comments
  • 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.
    | Comment!
Visit Seeking Alpha's
BCS vs. ETF Alternatives
Company Description
Barclays PLC is a financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management. It operates in Europe, the Americas, Africa and Asia.