Vanguard has stepped forward with an offer to buy iShares‘ line of exchange traded funds (ETFs), and it’s a step up from the agreement it had with CVC Capital Partners.
Vanguard has offered $5 billion to buy the line, up from the $4.4 billion agreement it had with Blue Sparkle LP, a limited partnership established by CVC Capital Partners, reports David Hoffman for Investment News.
The deal with Blue Sparkle was announced in April, but the sale included an agreement that iShares could solicit other offers until June 18.
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