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The Blackstone Group L.P. Message Board

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  • Blackstone-backed Travelport's IPO expected to raise $480 mln
    REUTERS 2:42 PM ET 9/11/2014
    Symbol Last Price Change
    BX 32.57 0.06 (0.18%)
    QUOTES AS OF 04:02:10 PM ET 09/11/2014

    Sept 11 (Reuters) - Airline ticketing company Travelport Worldwide Ltd's initial public offering is expected to raise up to $480 million, the Blackstone Group LP(BX) -backed company said in a regulatory filing.

    The 30 million share offering is expected to be priced at $14-$16 per share, valuing the Atlanta, Georgia-based company at $1.9 billion at the top end of the range

    Sentiment: Strong Buy

  • Reply to

    Schwartzman says $100

    by mike2915 Sep 11, 2014 12:13 PM

    Look, if they sell in a quarter or next or next year, it does not matter. The ASSET is on the books period. We are buying a call on those assets by owning BX. The call is distribution and realization of gain....... $100 per share folks!! Just buy and wait for profits profits profits!!!

    Sentiment: Strong Buy

  • The quarter that BX sells 2.35 B worth of Hilton is going to be huge, we have liftoff folks

    Sentiment: Strong Buy

  • BX was smart not to sell any HOT at the IPO of 20...bright guys!!!!! now with HLT at a high...good time to take some profits... any fools sell BS IMHO... good time for others to buy still...good dividend coming up next time I think..Hilton Secondary Offering May Loosen Blackstone’s Control
    By Chris Lange September 11, 2014 3:05 pm EDT

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    Hilton Worldwide Holdings Inc. (NYSE: HLT) has filed with the Securities and Exchange Commission to have a secondary offering. The Blackstone Group L.P. (NYSE: BX) will be acting as the Selling Stockholders for this offering of a total of 90 million shares with an option for an additional 13.5 million shares. The underwriters for the offering were listed as Deutsche Bank, Goldman Sachs, BofA Merrill Lynch and Morgan Stanley.

    Hilton was taken private in 2007 by Blackstone in a leveraged buyout for roughly $26 billion. This was a record buyout for a hospitality company, and remains one of the biggest private deals on record.

    On December 12, 2013 Hilton re-entered the public market after its shares priced at $20 giving the company an equity value of about $19.7 billion. Blackstone raised roughly $2.35 billion of the initial public offering of about 117.6 million shares, this was another record among hospitality companies.

    The total equity value of 90 million shares in Hilton stock equates to a 9.1% stake in the company. Should those investors choose to exercise the additional shares option of 13.5 million, Blackstone’s percentage held would drop by 1.4% more in the total equity of the company. Blackstone will still retain a controlling interest of 56.8% for only the offering of 90 million shares, or 55.4% if the overallotment option is taken.

    A price has not been set for this secondary offering but recent market prices roughly around $25 would value the 90 million shares at $2.25 billion with the additional shares option valued at $337.5 million. This is in the neighborhood of value that Blackstone was looking for in its IPO of Hilton back in December. Hilton noted that it will not receive any proceeds from the sale of shares of these common shares by the selling stockholders, something typical of when insiders and private equity holders sell shares.

    Hilton’s share price was down 1.7% at $24.85 in late-Thursday trading. Its post-IPO trading range has been $20.55 to $25.92, and the consensus analyst price target is $27.29.

    By Chris Lange

    Read more: Hilton Secondary Offering May Loosen Blackstone’s Control - 24/7 Wall St. http://247wallst.com/casinos-hotels/2014/09/11/hilton-secondary-offering-may-loosen-blackstones-control/#ixzz3D2MPxO4W
    Follow us: @247wallst on Twitter | 247wallst on Facebook

    Sentiment: Strong Buy

  • In an effort to try convincing creditors to accept extending the $10.3 billion repayment, Dubai World's advisers led by Blackstone are offering an early repayment of a separate $4.4 billion tranche of debt that is due next year. The conglomerate proposed that the 2018 repayment should be postponed by four years and will be done according to an amortization structure, which means lenders will be repaid in cash gradually during the years preceding the 2022 deadline.

    Sentiment: Strong Buy

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    Agree 100%. I'll buy again once it closes positive for on a weekly basis.

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    But then again, I sold GILD after earnings at 91 to get back into BX at 33.20 - BX is not going to put me on one hedge fund teams

    Sentiment: Hold

  • Per share, if compared to other asset managers. Using a comp of Blackrock, BX should be at least double.

    Sentiment: Strong Buy

  • While the nerds hold hundreds of stocks, the jocks make large wagers on just a few. Indeed, why mess around with edging out the market and, well, just go for it? The biggest alpha males in the business—Blackstone—are doing just that with their recently announced big bet hedge fund which will front traders with hundreds of millions of dollars to take large positions in a small number of companies. Go big or go home.

    Sentiment: Strong Buy

  • One key to this good fortune is obvious: the historically low interest rates maintained by the Federal Reserve. But plenty of other deals benefited from low lending rates, too, and fell apart. In fact, of the nine hospitality and lodging LBOs completed in the same time frame as Blackstone’s Hilton acquisition, only Hilton and La Quinta Inns & Suites (another Blackstone deal) weren’t forced into bankruptcy or a debt restructuring.

    Sentiment: Strong Buy

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    Agreed, IF the institutions end or pause their programmed selling.they seem to be absent yesterday and so far today, then the traders will take over and push the stock up about 10%.

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    Entry point will not get much better than this, we are 4 - 5 weeks ahead of earnings, it will start to move up again as earnings near and with 2 previous consecutive blow out quarters I can´t imagine how this stock can be held down. I am looking for at least 10% from here by the time earnings occur, back to its previous high

    Sentiment: Hold

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    Since you seem to have a lot of experience tracking this stock, why do you think its not moving. I am looking for an entry point here, but don't like the head and shoulders pattern

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    Jim - I have twice got out and regretted it but your right about this stock - really easy to get discouraged when 90% of the board is green. I really think the institutions are chasing out the little guys, once thats done this thing is going to take off - just when that is……..
    This company just makes money, over 270 B AUM - thats absolutely crazy, the 2% management fee alone brings in 540 M

    Sentiment: Hold

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    To let those who are truly miserable, those who haven't seen an up day in quite a while that they may be happier somewhere else...maybe anywhere else.

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    If your so happy why are you here?

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    Value trap...I'm out and loving life again. This stock made me miserable. I just wish I would have been smart enough to have left the day the market was up 200 and BX was down, that should have been my clue. GLTA. Over and out!

  • amazing the companies they have which will be great profits for us and BX.... such a great value here.. I have 3,000 shares..BX will be a great investment for any new investors....

    Sentiment: Strong Buy

  • avg 32.80 patience w/nice div.

  • Reply to

    the pause that refreshes

    by sandy.criscione Sep 9, 2014 6:23 PM

    best value stock around.. great dividend and prospects...

    Sentiment: Strong Buy

BX
30.1499-0.5201(-1.70%)12:59 PMEDT

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