BlackRock is on the verge of buying Barclays Global Investors to create a $2.8 trillion (€2 trillion) funds giant, in the largest acquisition in the asset management industry. But do the terms of the deal, which look set to heavily dilute the stakes of BlackRock's existing shareholders, create a good opportunity to buy yet another major funds house?

BlackRock is expected to pay half the purchase price in cash and the other half in stock, giving Barclays a 20% stake in the newly-merged company, according to Bloomberg. BlackRock is also trying to raise money from Middle Eastern investors, according to a source familiar with the situation, meaning that a large stake in the company could also go to sovereign wealth funds in the region.