Barclays PLC officials today confirmed theyve received a number of expressions of interest, including unsolicited interest in BGI, its money management division.
Gemma Abbott, Barclays spokeswoman, declined to provide further details about the bids for BGI.
There can be no certainty that any of these approaches will result in a different transaction, according to a statement from Barclays, referring to a previously announced sale of its iShares ETF operation to private equity firm CVC Capital Partners for $4.4 billion. That transaction, which was announced on April 9, contains a go-shop clause allowing Barclays to consider other bids until June 18.
Barclays will update the market further upon the conclusion of the go-shop process, according to the statement.
In a client report dated March 27, Societe Generale analysts valued BGI at £6 billion ($9.1 billion) compared to £9 billion two years earlier. Other analysts currently value the business closer to $10 billion.
BGIs worldwide institutional assets had fallen by 27% to $1.15 trillion at year-end 2008 compared to the previous year.
Barclays stock rose 5.8% to close today at 267.75 pence per share in London trading.