BlackRock's BGI bid confirmed as Mellon circles

Banking giant Barclays this morning confirmed it is in talks with US manager BlackRock over the sale of its Global Investors arm.

While the BlackRock deal was believed to be imminent, Barclays warned discussions were still ongoing, with BNY Mellon also understood to be in negotiations. It is thought the BlackRock deal would be worth as much as £8.1bn ($13bn), of which $585m could be passed on to employees. The deal far exceeds Barclays' $4.4bn agreement with CVC Capital Partners for just its iShares business previously announced in April. "Following the announcement by Barclays of the sale of its iShares business, Barclays has received other proposals for iShares and the broader BGI business," the bank's stat...