Bank of America and
PNC's planned sale of some of their shares in
BlackRock [
see profile] will bring in more than $8 billion, and they're selling more shares than initially planned. Yesterday the mutual fund firm
filed to price the offering at $163 per share.
Dow Jones' Joan Solsman
reported on the new filing.
BlackRock first revealed the planned sale last week, with BofA and PNC offering up a total of 42 million shares and the underwriters (
Morgan Stanley and BofA's own
Merrill Lynch) gaining the opportunity to buy 6.3 million more shares (see
The MFWire, 11/3/2010). Now BofA and PNC will offer 51,075,758 shares (which comes to nearly $8.33 billion at $163 per share) and the underwriters could buy up to 5,207,376 more shares. 
Edited by:
Neil Anderson, Managing Editor
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