Reuters UK reported Sunday that there is a likely new bidder and new interest for the iShares unit of San Francico based-Barclays Global Investors as a firm called BC Partners has trumped an earlier bid by 500 million pounds over CVC Partners earlier bid of 3 billion pounds. During this 45 day "go shop" period other bidders may emerge, and CVC Partners has the right to match any new bid made.
There has also been a low-key drumbeat that a divestiture of BGI WITH iShares may be the form the deal eventually takes as reported in this Pension & Investments article.
As I noted in an earlier post , this type of now you’ve got a deal, now you don’t waiting is incredibly debilitating – abeit perhaps necessary – for organizations and the people that form them. I’ve never seen any research on it, but I would be surprised if organizational efficiency for folks at BGI hits anywhere north of 70% at a time like this. Life, unless internal communications and engagement activities are top-notch, is consumed with lots of conversations about "what ifs" and "did you hear" – and the "real work" is relegated to a rung or two below.
Since BGI has experienced a heavy exodus senior execs below the CEO and CEO levels the last 18 months, and it means that these "waiting things out times" will make things even tougher.