BlackRock to acquire Prequin for $3.2B
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 1 July 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Monday, July 1st. I'm Julie Morgan. |
| 0:12.9 | Black Rock, Pre-Quinn, Boeing, and Spirit Arrow Systems |
| 0:16.9 | are making Monday merger news today. |
| 0:19.5 | And the EU will reportedly charge Meta for breaking the rules. |
| 0:24.0 | Black Rock said on Sunday night it has agreed to acquire UK Private Markets Data |
| 0:29.6 | Provider for $3. billion dollars in cash. |
| 0:33.0 | Black Rock says this will add a highly complimentary data business to its |
| 0:38.0 | investment technology. |
| 0:40.0 | In 2024, Prequent is expected to generate $240 million of highly recurring revenue and has grown 20% annually in the last three years. |
| 0:50.0 | The deal is Black Rock's second major acquisition this year to expand into the fast-growing world of private markets investing. |
| 0:58.0 | In January, Black Rock said it would buy global infrastructure partners for 12.5 billion. |
| 1:05.2 | In other merger Monday news and also an update to last Tuesday's top story here on Wall |
| 1:10.5 | Street breakfast. |
| 1:12.1 | Boeing has agreed to acquire Spirit Aerosystems |
| 1:15.3 | for $37.25 a share in an all-stock deal. |
| 1:19.7 | The two companies shared the news shortly after midnight in separate news releases. |
| 1:24.8 | The deal value spirit at more than $4.7 billion, Boeing said, including debt the total transaction |
| 1:31.8 | value is $8.3 billion. |
| 1:34.2 | Spirit said it entered into a binding term sheet with Airbus that calls for the companies |
| 1:39.5 | to enter into agreements for Airbus to acquire some Spirit assets that support Airbus programs, |
| 1:46.0 | along with the closing of its acquisition by Boeing. |
... |
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