NEW YORK--(BUSINESS WIRE)--
BlackRock, Inc. (NYSE:BLK) today announced the pricing of the secondary
offering of 26,211,335 shares of common stock held by Barclays Bank PLC
(“Barclays”) at a price of $160.00 per share. BlackRock also agreed to
purchase approximately 6.4 million shares directly from Barclays, at the
net price per share that Barclays receives in the secondary offering,
for an aggregate purchase amount of $1.0 billion.
In connection with the offering, the underwriters have a 30-day option
to purchase up to an additional 2,621,134 BlackRock shares from
Barclays. If the underwriters fully exercise their option to purchase
additional shares, the offering and BlackRock’s repurchase will together
result in Barclays exiting its entire ownership position in BlackRock.
BlackRock will not receive any of the proceeds from the sale of shares
of its common stock by Barclays. Barclays, Morgan Stanley and BofA
Merrill Lynch are serving as book-running managers for the offering.
A preliminary prospectus supplement and the accompanying base prospectus
relating to the offering have been filed with the Securities and
Exchange Commission and are available at its website, http://www.sec.gov.
Copies of the preliminary prospectus supplement and accompanying base
prospectus relating to the offering may also be obtained when available
from:
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Barclays
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1155 Long Island Avenue
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Edgewood, New York 11717
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Attention: Broadridge Financial Solutions
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Email: barclaysprospectus@broadridge.com
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Telephone: 1-888-603-5847
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Morgan Stanley
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180 Varick Street, 2nd Floor,
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New York, NY 10014
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Attention: Prospectus Dept
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Email: prospectus@morganstanley.com
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Telephone: (866) 718-1649
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This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any offer of these
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About BlackRock
BlackRock is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
March 31, 2012, BlackRock’s AUM was $3.684 trillion. BlackRock offers
products that span the risk spectrum to meet clients’ needs, including
active, enhanced and index strategies across markets and asset classes.
Products are offered in a variety of structures including separate
accounts, mutual funds, iShares® (exchange-traded
funds), and other pooled investment vehicles. BlackRock also offers risk
management, advisory and enterprise investment system services to a
broad base of institutional investors through BlackRock Solutions®.
Headquartered in New York City, as of March 31, 2012, the firm has
approximately 9,900 employees in 27 countries and a major presence in
key global markets, including North and South America, Europe, Asia,
Australia, and the Middle East and Africa. For additional information,
please visit the Company's website at www.blackrock.com.
Forward-looking Statements
This press release, and other statements that BlackRock may make, may
contain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act, with respect to BlackRock’s future
financial or business performance, strategies or expectations.
Forward-looking statements are typically identified by words or phrases
such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,”
“comfortable,” “expect,” “anticipate,” “current,” “intention,”
“estimate,” “position,” “assume,” “outlook,” “continue,” “remain,”
“maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or
future or conditional verbs such as “will,” “would,” “should,” “could,”
“may” or similar expressions.
BlackRock cautions that forward-looking statements are subject to
numerous assumptions, risks and uncertainties, which change over time.
Forward-looking statements speak only as of the date they are made, and
BlackRock assumes no duty to and does not undertake to update
forward-looking statements. Actual results could differ materially from
those anticipated in forward-looking statements and future results could
differ materially from historical performance.
In addition to risk factors previously disclosed in BlackRock’s
Securities and Exchange Commission (“SEC”) reports the following
factors, among others, could cause actual results to differ materially
from forward-looking statements or historical performance: (1) the
introduction, withdrawal, success and timing of business initiatives and
strategies; (2) changes and volatility in political, economic or
industry conditions, the interest rate environment, foreign exchange
rates or financial and capital markets, which could result in changes in
demand for products or services or in the value of assets under
management; (3) the relative and absolute investment performance of
BlackRock’s investment products; (4) the impact of increased
competition; (5) the impact of future acquisitions or divestitures; (6)
the unfavorable resolution of legal proceedings; (7) the extent and
timing of any share repurchases; (8) the impact, extent and timing of
technological changes and the adequacy of intellectual property and
information security protection; (9) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall Street
Reform and Consumer Protection Act, and regulatory, supervisory or
enforcement actions of government agencies relating to BlackRock,
Barclays Bank PLC or The PNC Financial Services Group, Inc.; (10)
terrorist activities, international hostilities and natural disasters,
which may adversely affect the general economy, domestic and local
financial and capital markets, specific industries or BlackRock; (11)
the ability to attract and retain highly talented professionals; (12)
fluctuations in the carrying value of BlackRock’s economic investments;
(13) the impact of changes to tax legislation, including taxation on
products or transactions which could affect the value proposition to
clients and, generally, the tax position of the Company; (14)
BlackRock’s success in maintaining the distribution of its products;
(15) the impact of BlackRock electing to provide support to its products
from time to time; and (16) the impact of problems at other financial
institutions or the failure or negative performance of products at other
financial institutions.
BlackRock's Annual Report on Form 10-K and BlackRock's subsequent
filings with the SEC, accessible on the SEC's website at www.sec.gov
and on BlackRock’s website at www.blackrock.com,
discuss these factors in more detail and identify additional factors
that can affect forward-looking statements. The information contained on
the Company’s website is not a part of this press release.
BlackRock, Inc.
Media Relations
Brian Beades (United
States), 212-810-5596
Brian.Beades@BlackRock.com
or
Caroline
Hancock (United Kingdom), 44-207-743-2103
Caroline.Hancock@BlackRock.com
or
Investor
Relations
Ellen Taylor, 212-810-3815
Ellen.Taylor@BlackRock.com
Source: BlackRock, Inc.