Bank of America to sell $87 bln money-market fund business to BlackRock
November 03, 2015 at 08:00 AM EST
NEW YORK, Nov 3 (Reuters) - Bank of America Corp, the No. 2 U.S. bank, has agreed to sell responsibility for about $87 billion in money-market funds and other products it manages to BlackRock Inc in one of the money market industry's largest deals ever.
