Skadden To Guide BlackRock In $1B Stock Buyback

Law360, New York (May 21, 2012, 7:26 PM EDT) -- BlackRock Inc. will repurchase some $1 billion of its common stock from Barclays Bank PLC as part of the U.K.-based banking giant’s move to unload its roughly $6.1 billion stake in the New York-based investment manager, the companies said Monday.

Barclays, which aims to dispose of all of its 19.6 percent ownership, or more than 35 million shares, in BlackRock through the sale, plans to give the sale's underwriters a 30-day option to buy an additional 10 percent of the shares offered to help achieve that...
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