BlackRock to place $2.8 billion shares to help fund Barclays purchase

New York, June 11 - BlackRock, Inc. said it will sell $2.8 billion of shares to institutional investors to help fund its planned purchase of Barclays Global Investors.

The New York-based investment management firm will sell 19.9 million shares.

Proceeds will go towards the $6.6 billion cash portion of the purchase price. Barclays will also receive 37.8 million shares of common stock and equivalents.

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