finance · City PM ↗
Vanguard eyes Barclays
Citation-ready fact
Vanguard has made a $5 bn (£3.1 bn) counter‑bid for Barclays’ iShares exchange‑traded funds business.
5 USD · counter‑bid3.1 GBP · counter‑bid
Vanguard, US fund manager
Citation-ready fact
Barclays has an existing $4.4 bn deal with CVC Partners.
4.4 USD · deal
CVC Partners, partner
Citation-ready fact
The go‑shop clause allows new offers until 18 June.
go‑shop clause, clause
Barclays has received a $5bn (£3.1bn) counter-bid for its iShares exchange-traded funds business from US fund manager Vanguard, potentially scuppering the existing $4.4bn deal with CVC Partners.
The bank has received interest from several parties for iShares, as well as the Barclays Global Investors (BGI) unit that houses it. Both are up for sale as part of a “go-shop” clause that allows new offers until 18 June.
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