iShares Deal Open To Other Offers Until June 18th “Go Shop Clause”

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April 13, 2009 10:01am NYSE:GLD

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Barclays is poised to receive bids for the whole of its asset management arm, Barclays Global Investors, after writing a break clause into its deal to sell the division’s exchanged-traded funds business iShares last week for £3bn.

The bank has indicated it will listen to offers for BGI by including a “go-shop” clause in the sale of iShares to private equity firm CVC Capital Partners.

Under the deal, Barclays has until June 18 to “solicit or consider proposals for a superior transaction involving iShares and potentially other related businesses”. Barclays had previously suggested it would not sell the whole of BGI, valued in the accounts at around £8bn.

Full Story: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5146436/Barclays-open-to-BGI-bids.html



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