Barclays has agreed to sell its fund management division, Barclays Global Investors (BGI), to US money management firm Blackrock for £8.2bn ($13.5bn). Blackrock is paying a mixture of cash and shares in a deal that will create the world's biggest asset manager. Barclays staff who own stocks in BGI will share a windfall. Bob Diamond, the president, will get £16m.
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