New-York based BlackRock announced on June 11 its agreement to acquire Barclays’ asset management unit, Barclays Global Investors (BGI).

The deal will create the world’s largest asset management firm with a combined $2.7 trillion of assets under management. BGI is the manager of iShares, a leading brand in the $530 billion Exchange Traded Funds (EFT) market with a roughly 50% share.

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