BLK Stock: BlackRock to Buy Global Infrastructure Partners for $12.5 Billion

BlackRock (NYSE: BLK ) stock is in the news Friday after the investment firm announced its plans to acquire Global Infrastructure Partners in a massive deal. BlackRock is offering $3 billion in cash and 12 million shares of BLK stock to acquire Global Infrastructure Partners. The stock portion of the deal has 30% of the total value of the offer deferred for roughly five years.

Considering the price of BLK stock, the offer for Global Infrastructure Partners totals roughly $12.5 billion . That makes it the largest deal signed by BlackRock in more than a decade. Laurence Fink, chairman and CEO of BlackRock, said the following about the deal. BLK Stock Deal Details BlackRock is expecting the deal to acquire Global Infrastructure Partners to close in the third quarter of 2024.

It also believes it will be accretive to its as adjusted earnings per share and operating margin in the first full year after its completion. BlackRock notes that the deal includes all of the more than $100 billion in assets managed by Global Infrastructure Partners. It will also see Global Infrastructure Partners CEO Adebayo Ogunlesi join the BlackRock Board of Directors.

BLK stock is down roughly half a percentage as of Friday morning. Investors searching for more of the latest stock market stories are in the right place! InvestorPlace is home to all of the hottest stock market news worth reading about on Friday! Among that is what’s happening with shares of VCI Global (NASDAQ: VCIG ), Genius (NYSEMKT: GNS ) and Charge Enterprises (NASDAQ: CRGE ) stock this morning.

All of that news is available at the following links! More Stock Market News for Friday Why Is VCI Global (VCIG) Stock Down 35% Today? Why Is Genius (GNS) Stock Down 40% Today? Why Is Charge Enterprises (CRGE) Stock Up 28% Today? On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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