UK's Competition Watchdog To Investigate Planned Merger Of BlackRock, Preqin

(RTTNews) - Friday, the UK's Competition and Markets Authority has announced a probe into the anticipated acquisition by BlackRock, Inc. of Preqin Ltd.

The regulator will determine whether the acquisition will result in the creation of a relevant merger situation under the Enterprise Act 2002. The Authority will also see if there will be a substantial reduction in competition.

As part of the investigation, the agency has issued a preliminary 'invitation to comment' to allow the interested parties to submit their views about the effects of this transaction on competition in the UK.

Currently, BlackRock's stock is trading at $1,058.33, down 0.05 percent on the New York Stock Exchange.