BlackRock scrambles for BGI

BlackRock was on Sunday in discussions with Barclays as it raced to seal the purchase of Barclays Global Investors and see off an 11th-hour challenge from Bank of New York Mellon. Barclays is expected to decide early this week on who should buy its BGI unit. If BlackRock succeeds, Barclays is likely to take a stake of up to 20% in the US money manager, said people briefed on the deal. BlackRock is considered the most probable buyer, but if it fails to offer an attractive price, BNY Mellon could step in.