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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: