BlackRock to pay $6.6B in cash, plus stock for Barclays PLC’s asset management arm & iShares

LOS ANGELES — After weeks of speculation, U.S. investment manager BlackRock Inc. said Thursday it will purchase the asset management arm of British investment bank Barclays PLC, including its iShares division, for $13.5 billion in cash and stock.

BlackRock to pay $13.5 billion in cash and stock for Barclays asset management arm & iShares

LOS ANGELES — Ending weeks of speculation, U.S. investment manager BlackRock Inc. said Thursday it will purchase the asset management arm of British investment bank Barclays PLC for $13.5 billion in cash and stock, to become the world’s largest asset manager.