BlackRock Inc.’s largest shareholder, PNC Financial Services Group Inc., said it is exiting its stake in the firm, ending a lucrative yearslong wager on the world’s largest money manager.PNC Financial first invested $240 million in BlackRock in 1995.
davidmwessel Unfolding. Let’s see the post sale impact on institutional vs non institutional in near to mid term horizon.
I may be stating the obvious, but announcing a huge sale at this uncertain time has a hint of desperation about it, compared with an offer to purchase.
Obvious.