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UK competition watchdog looks into $3.32 bln Blackrock-Preqin deal


//business-finance.news-articles.net/content/202 .. g-looks-into-3-32-bln-blackrock-preqin-deal.html
Published in Business and Finance on Tuesday, December 3rd 2024 at 20:30 GMT by Bill Williamson   Print publication without navigation

  • Britain's competition regulator said on Tuesday it was considering whether asset management firm BlackRock's 2.55 billion pound ($3.23 billion) acquisition of UK data firm Preqin would raise competition concerns in the local market.

The UK's Competition and Markets Authority (CMA) has initiated an inquiry into BlackRock Inc.'s $3.2 billion acquisition of Preqin, a private equity data provider, to assess potential impacts on competition. This move follows BlackRock's announcement in June to acquire Preqin, aiming to enhance its capabilities in alternative investments. The CMA has set a deadline of January 25, 2024, to decide whether a deeper investigation is necessary. This scrutiny comes amidst growing regulatory attention on major financial deals, reflecting concerns over market consolidation and its effects on competition and consumer choice.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/uk-competition-watchdog-looks-into-332-bln-blackrock-preqin-deal-2024-12-03/ ]

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