BlackRock Picks Up 5% Stake In Australian Mining Contractor

Law360, New York (January 3, 2014, 4:01 PM EST) -- After a recent stock surge for struggling Australian engineering company Forge Group Ltd., global asset manager BlackRock Inc. was disclosed as a substantial holder in a Friday regulatory filing.

Forge disclosed in documents filed with the Australian Securities Exchange on Friday that BlackRock controls 5.32 percent of the voting power as of Dec. 31. The documents showed BlackRock initially began to acquire Forge securities in September, but made a lion’s share of its acquisitions toward the end of December following an almost month-long trading halt in...
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