12.01.2024 14:28:13
|
BlackRock To Acquire Global Infrastructure Partners For $3 Bln In Cash, 12 Mln In Stock
(RTTNews) - Asset management major BlackRock, Inc. (BLK) Friday announced that it has agreed to acquire Global Infrastructure Partners or GIP for a total cash consideration of $3 billion and around $12 million worth of BlackRock common stock.
BlackRock said it believes the acquisition to be complementary and hopes to deliver holistic infrastructure expertise across equity, debt, and solutions to its clients.
GIP is an infrastructure investor and has over $100 billion in assets under management including over 40 portfolio companies that generate more than $75 billion in annual revenue.
Under the agreement terms, the stock consideration which is around 30 percent of the whole transaction will be deferred and is expected to be issued in approximately five years.
The cash consideration of the deal is to be funded by additional debt.
BlackRock anticipates the deal to be modestly accretive to its adjusted earnings per share and operating margin in the first full year after the close of the transaction.
The deal is expected to close in the third quarter of 2024.
In pre-market activity, BlackRock shares are trading at $788.50, down 0.90% on the New York Stock Exchange.
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu BlackRock Inc.mehr Nachrichten
Analysen zu BlackRock Inc.mehr Analysen
Aktien in diesem Artikel
BlackRock Inc. | 433,20 | -4,07% |