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PNC Financial to Exit Full Investment in BlackRock

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BlackRock's largest shareholder, PNC Financial, is exiting its roughly 22% stake in the firm, ending a lucrative wager on the world’s largest money manager

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.

 

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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.

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