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BlackRock in talks about a strategic tie-up with Millennium - sources

Published 11/07/2024, 07:14 PM
Updated 11/07/2024, 07:15 PM
© Reuters. People are seen in front of a showroom that hosts BlackRock in Davos, Switzerland Januar 22, 2020. REUTERS/Arnd Wiegmann/File Photo
BLK
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By Paritosh Bansal and Carolina Mandl

NEW YORK (Reuters) - BlackRock Inc (NYSE:BLK) is in early-stage talks with hedge fund Millennium Management about a strategic tie-up that could involve acquiring a minority stake in the hedge fund, two sources familiar with the matter said.

© Reuters. People are seen in front of a showroom that hosts BlackRock in Davos, Switzerland Januar 22, 2020. REUTERS/Arnd Wiegmann/File Photo

The sources said it was not clear whether the talks would result in a deal, with one of them saying the strategic rationale of a transaction was not clear.

The Financial Times reported earlier on the deal talks.

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