BlackRock (BLK) has provided an update.
BlackRock, Inc. is set to significantly bolster its market intelligence capabilities by acquiring Preqin, a top-tier provider of private markets data, for a hefty sum of £2.55 billion ($3.2 billion U.S. dollars) in cash. This strategic move, expected to finalize in the last quarter of 2024, will be financed through a combination of new debt and available cash, subject to regulatory approvals and customary closing conditions. The acquisition promises to enhance BlackRock’s position in the financial information sector by integrating Preqin’s comprehensive assets and business operations into its subsidiary.
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