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Press release from Business Wire

BlackRock Announces Pricing of Secondary Offering of Common Stock

Tuesday, May 22, 2012

BlackRock Announces Pricing of Secondary Offering of Common Stock18:15 EDT Tuesday, May 22, 2012 NEW YORK (Business Wire) -- BlackRock, Inc. (NYSE:BLK) today announced the pricing of the secondary offering of 26,211,335 shares of common stock held by Barclays Bank PLC (“Barclays”) at a price of $160.00 per share. BlackRock also agreed to purchase approximately 6.4 million shares directly from Barclays, at the net price per share that Barclays receives in the secondary offering, for an aggregate purchase amount of $1.0 billion. In connection with the offering, the underwriters have a 30-day option to purchase up to an additional 2,621,134 BlackRock shares from Barclays. If the underwriters fully exercise their option to purchase additional shares, the offering and BlackRock's repurchase will together result in Barclays exiting its entire ownership position in BlackRock. BlackRock will not receive any of the proceeds from the sale of shares of its common stock by Barclays. Barclays, Morgan Stanley and BofA Merrill Lynch are serving as book-running managers for the offering. A preliminary prospectus supplement and the accompanying base prospectus relating to the offering have been filed with the Securities and Exchange Commission and are available at its website, http://www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may also be obtained when available from: Barclays 1155 Long Island Avenue Edgewood, New York 11717 Attention: Broadridge Financial Solutions Email: barclaysprospectus@broadridge.com Telephone: 1-888-603-5847   Morgan Stanley 180 Varick Street, 2nd Floor, New York, NY 10014 Attention: Prospectus Dept Email: prospectus@morganstanley.com Telephone: (866) 718-1649   BofA Merrill Lynch 4 World Financial Center New York, NY 10080 Attn: Prospectus Department Email: dg.prospectus_requests@baml.com   This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.About BlackRock BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2012, BlackRock's AUM was $3.684 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares®(exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of March 31, 2012, the firm has approximately 9,900 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia, and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com. Forward-looking Statements This press release, 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 are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. In addition to risk factors previously disclosed in BlackRock's Securities and Exchange Commission (“SEC”) reports the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (1) the introduction, withdrawal, success and timing of business initiatives and strategies; (2) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for products or services or in the value of assets under management; (3) the relative and absolute investment performance of BlackRock's investment products; (4) the impact of increased competition; (5) the impact of future acquisitions or divestitures; (6) the unfavorable resolution of legal proceedings; (7) the extent and timing of any share repurchases; (8) the impact, extent and timing of technological changes and the adequacy of intellectual property and information security protection; (9) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to BlackRock, Barclays Bank PLC or The PNC Financial Services Group, Inc.; (10) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (11) the ability to attract and retain highly talented professionals; (12) fluctuations in the carrying value of BlackRock's economic investments; (13) the impact of changes to tax legislation, including taxation on products or transactions which could affect the value proposition to clients and, generally, the tax position of the Company; (14) BlackRock's success in maintaining the distribution of its products; (15) the impact of BlackRock electing to provide support to its products from time to time; and (16) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. BlackRock's Annual Report on Form 10-K and BlackRock's subsequent filings with the SEC, accessible on the SEC's website at www.sec.gov and on BlackRock's website at www.blackrock.com, discuss these factors in more detail and identify additional factors that can affect forward-looking statements. The information contained on the Company's website is not a part of this press release. BlackRock, Inc.Media RelationsBrian Beades (United States), 212-810-5596Brian.Beades@BlackRock.comorCaroline Hancock (United Kingdom), 44-207-743-2103Caroline.Hancock@BlackRock.comorInvestor RelationsEllen Taylor, 212-810-3815Ellen.Taylor@BlackRock.com