BLK - BlackRock and Canaccord in talks to acquire Bridging Finance - Bloomberg

hapabapa/iStock Editorial via Getty ImagesBlackRock (BLK) funds and Canaccord Genuity Group (CCORF) are in advanced talks to acquire Bridging Financial, a Toronto-based private lender put in receivership by Canadian regulators, Bloomberg reports, citing people familiar with the matter.BlackRock and Canaccord contacted Canadian regulators to place a bid for the firm, which has ~C$2B (US$1.6B) in assets under management as of December, the people told Bloomberg.The Ontario Securities Commission says it has evidence that Bridging was mismanaged and hurt by conflicts of interest, including its former CEO David Sharpe receiving undisclosed payments into his personal checking account from an entity related to one of the firm's clients.Per the request of the OSC, PricewaterhouseCoopers took over Bridging this spring; OSC's investigations are still active and the allegations haven't been proven it court.Last year, Bridging tried to raise C$100M (~US$79.6M) in debt to refi a C$70M (~US$55.7M) existing facility with BlackRock.Under the potential

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BlackRock and Canaccord in talks to acquire Bridging Finance - Bloomberg