BlackRock in talks about a strategic tie-up with Millennium – sources

By Paritosh Bansal and Carolina Mandl

NEW YORK (Reuters) – BlackRock Inc (NYSE:) is in early-stage talks with hedge fund Millennium Management about a strategic tie-up that could involve acquiring a minority stake in the hedge fund, two sources familiar with the matter said.

The sources said it was not clear whether the talks would result in a deal, with one of them saying the strategic rationale of a transaction was not clear.

The Financial Times reported earlier on the deal talks.