Mizuho Financial Group (MFG), Japan’s third-largest bank, will take a $500 million stake in asset manager BlackRock Inc. (BLK)
Mizuho will buy a total of 3.07 million shares of BlackRock for $163 a share, Bloomberg News said. The purchases will give Mizuho a 2% stake in BlackRock.
The Japanese bank will buy 2.45 million shares from Bank of America Corp (BAC) and the other shares in a public…
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Mizuho to Take $500 Million Stake in BlackRock originally appeared on DailyFinance on Fri, 12 Nov 2010 07:10:00.
Filed Under: Company News, Investing, Bank of America, Credit