BlackRock buys Global Infrastructure Partners in 12 billion dollar deal

BlackRock is buying independent infrastructure fund manager Global Infrastructure Partners (GIP) in a cash-and-stock deal valued at more than 12 billion US dollars (£9.43 billion) (Mark Lennihan/AP)

BlackRock is buying independent infrastructure fund manager Global Infrastructure Partners (GIP) in a cash-and-stock deal valued at more than 12 billion US dollars (£9.43 billion).

The deal announced on Friday includes three billion dollars (£2.36 billion) in cash and approximately 12 million shares of BlackRock.