BlackRock agreed to purchase Canadian ETF provider Claymore Investments from Guggenheim Partners, spokesman Brian Beades confirmed.
Terms were not disclosed.
The deal would strengthen BlackRock's hold as the No. 1 ETF provider in Canada in terms of assets under management.
BlackRock has C$29 billion (US$28.46 billion) in Canadian assets under management and 64% of the country's ETF market; while Claymore is No. 2 with C$6 billion in assets and a 13% market share, according to Bloomberg data as of Jan. 11.
In the U.S., BlackRock had 42.2% of the ETF market with US$448 billion in AUM as of Dec. 31.
The deal is expected to close in the first quarter, subject to regulatory approval, Mr. Beades said. The Claymore products will be sold under BlackRock's iShares name.
