Blackrock, Inc. · NYSE:BLK
Blackrock — Merger or Acquisition (June 2009)
14 slides from Blackrock's merger presentation, Jun 12, 2009
Slide 1: Introducing BlackRock Global Investors
Introducing BlackRock Global Investors Investor Presentation June 2009
Slide 2: Forward-looking statements
1 This presentation, and other statements that BlackRock may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements a
Slide 3: Introducing BlackRock Global Investors
2 BlackRock • Active fund management • Global mutual fund platform • Innovative and tailored solutions • BlackRock Solutions ® BGI • Index and scientific investing • iShares, industry-leading ETF platform • Product innovation • Retirement solutions BlackRock Global Investors • Global leader in inves
Slide 4: A Transformational Opportunity
3 Unparalleled product capabilities for institutional investors Leader in passive, active and scientific investments Equities, fixed income, cash and alternatives Customized global investment solutions for retail clients iShares, BGI’s leading ETF platform, combined with BlackRock’s global mutual fu
Slide 5: Unparalleled Product Breadth for Institutional Investors
4 World-class product offerings spanning entire risk spectrum Combined strength in passive, scientific and active strategies Unmatched ability to provide tailored, multi-asset solutions and fiduciary services Unparalleled Product Breadth for Institutional Investors • •
Slide 6: Customized Investment Solutions for Retail Clients
5 Ability to work with financial advisors to create investment solutions utilizing passive and active strategies BlackRock’s global mutual fund platform complements BGI’s industry- leading iShares ETF offerings Retail/iShares AUM $526 Billion Customized Investment Solutions for Retail Clients •
Slide 7: Global Leader in Risk Management
6 BlackRock Solutions ® extensive risk management and analytics Managing over $7 trillion of positions on the Aladdin ® platform Enterprise investment systems for risk management and trading Financial markets advisory services BGI’s strength in equity products and transition management Intellectual
Slide 8: Expanded Global Reach
7 Investment products spanning global markets Clients in over 60 countries 9,000 employees in 24 countries AUM by Region $2.714 Trillion Expanded Global Reach
Slide 9: Complementary Teams and Cultures
8 Deep management team Blake Grossman to become a Vice Chairman and Head of Scientific Investments, joining the Office of Chairman Strong intellectual capital Record of developing innovative products and customized investment solutions Thought leadership on key investment issues and trends Existing
Slide 10: Transaction Summary
9 Consideration to Barclays BLK Stock 37.8 million shares of common and preferred, representing approximately 19.9% pro forma economic ownership Cash $6.6 billion Source of Cash (100% Committed): Balance Sheet Cash $0.8 billion Short Term Debt 1.0 billion New 364-Day Debt Facility (a) 2.0 billion Eq
Slide 11: Transaction Summary (cont.)
10 Governance • Barclays will enter into a stockholder agreement similar to existing agreements with PNC and Bank of America • Barclays will have the right to appoint two representatives to BlackRock’s Board Approvals • Conclusion of “go-shop arrangement” • Barclays shareholders • Customary regulato
Slide 12: Pro Forma Assumptions
11 BlackRock BGI 2010 Forecasts: Consensus median of $7.38 (as of 6/5/09), as adjusted $695 million, based on BlackRock estimates for BGI Debt Financing Rate: 4.4% blended pre-tax Net Synergies: Approximately $200 million annual pre-tax, before amortization of incremental retention Intangible Amorti
Slide 13: Pro Forma Impact
12 BLK Standalone (a) Pro Forma Pro Forma EPS GAAP, as adjusted (b) $7.38 $8.08 % Accretion 9% Cash $8.06 $8.90 % Accretion 11% 2010 EPS Accretion (a) BlackRock based on consensus median estimates (b) Reflects as adjusted EPS plus amortization of intangibles Pro Forma Capitalization at Closing BLK S
Slide 14: 13 NYSE: BLK
13 NYSE: BLK