CVC Unlikely To Make Rival Offer for BGI

(Reuters) – Private equity firm CVC Partners is unlikely to mount a counter-offer to Blackrock’s (BLK.N) $13.5 billion acquisition of Barclays (BARC.L) unit BGI, a source familiar with the situation said.

“Although they could come back, it seems unlikely that they would at this kind of valuation and the way the deal is structured,” said the source.

“They were pursuing the iShares deal rather than a BGI deal,” the source added.

CVC declined to comment. (reporting by Simon Meads)