58.85 +0.29 (0.50%)
After hours: 7:53PM EST
|Bid||58.56 x 800|
|Ask||58.84 x 900|
|Day's Range||55.70 - 59.63|
|52 Week Range||32.44 - 64.97|
|Beta (5Y Monthly)||1.51|
|PE Ratio (TTM)||19.33|
|Earnings Date||Apr 15, 2020 - Apr 19, 2020|
|Forward Dividend & Yield||2.44 (3.98%)|
|Ex-Dividend Date||Feb 06, 2020|
|1y Target Est||65.08|
Blackstone Infrastructure Partners (BIP) today announced that Jonathan "Jon" Kelly, formerly Managing Partner and Head of Europe for Brookfield Infrastructure, will join Blackstone as a Senior Managing Director and Head of European Infrastructure. In this role, Mr. Kelly will be responsible for the build-out of a dedicated European infrastructure team and the sourcing of investment opportunities across the region.
Blackstone Group has raised its proposed offer to buy Japanese hotel chain Unizo Holdings to 6,000 yen ($53.78) from 5,600 yen per share, the U.S. private equity firm said on Monday, topping a bid by U.S. investment fund Lone Star. The improved offer values the company at 205 billion yen, compared with Unizo's market value of 200 billion yen as of Friday last week. Unizo supports an offer from Lone Star, which has bid 5,700 yen per share.
The alternative assets group has hired Jonathan Kelly from rival investment firm Brookfield to set up and lead a team of about 10 people in London to hunt for deals in the UK and Europe. It is drawn to UK deals in part because Brexit-related uncertainty has held down prices, and in part because the election of a Conservative majority government has halted the prospect of infrastructure nationalisation by a leftwing Labour administration. “As we look at the UK, we’re quite bullish,” said Sean Klimczak, Blackstone’s global head of infrastructure.
Blackstone Mortgage Trust, Inc. (NYSE:BXMT) announced today that Steve Plavin, Chief Executive Officer, will present at the Citi 2020 Global Property CEO Conference on Monday, March 2, 2020 at 8:50 am ET.
Hedge fund Senator Investment Group told clients on Thursday that its founding partners are splitting up, ending one of the industry's more profitable and durable professional marriages. Alexander Klabin will be leaving the $6.9 billion Senator to "pursue a more entrepreneurial approach to investing," the firm wrote in a letter to investors. Douglas Silverman, with whom Klabin cofounded the firm 12 years ago, will stay on and run it alongside a senior executive who is being promoted.
Blackstone (NYSE:BX) announced today that Michael Chae, Chief Financial Officer, is scheduled to present at the Credit Suisse 21st Annual Financial Services Forum on Thursday, February 27, 2020 at 10:00 am ET.
FRANKFURT/DUESSELDORF, Feb 20 (Reuters) - Thyssenkrupp is nearing a full sale of its elevator division, three people familiar with the matter said, adding this would result in maximum proceeds that are needed as net debt has soared in the last quarter. The sale, potentially Europe's biggest private equity transaction in 13 years, is entering its final stretch, with two buyout consortia in a neck-and-neck race to buy what is the world's fourth-largest lift maker. Under the deal, Thyssenkrupp, which is aching under 7.1 billion euros of net debt and an equity ratio of 5.4%, will likely sell all of Elevator Technology to realise the highest valuation of about 16 billion euros ($17.3 billion), the people said.
Thomson Reuters Corp is close to naming former Nielsen Holdings Plc president Steve Hasker as its next chief executive, succeeding Jim Smith, according to people familiar with the matter. The appointment of Hasker, a senior adviser at private equity firm TPG and former McKinsey & Co media consultant, could be announced as soon as Tuesday, when the Toronto-based company reports its fourth-quarter results, one of the sources said. Two sources cautioned that his appointment had not been finalized and the timing of an announcement could be slightly delayed.
(Bloomberg) -- Two groups of private-equity firms are through to the next round in the heated takeover battle for Thyssenkrupp AG’s $17 billion elevator business, a sale which could rank as one of the biggest deals globally this year.The shortlist of potential buyers consists of a consortium backed by Blackstone Group Inc., Carlyle Group Inc. and Canada Pension Plan Investment Board and a second group of Advent International, Cinven and the Abu Dhabi Investment Authority.“The objective is to reach an agreement quickly on a majority or full sale,” Thyssenkrupp in a statement.The decision leaves Finnish rival Kone Oyj, which teamed up with CVC Capital Partners, empty handed despite offering the highest bid. Labor representatives and some executives were worried Kone’s bid faced a lengthy and unpredictable competition review and could lead to a break up of the elevator business, people familiar with the matter said earlier this month. Kone’s Class B shares fell as much as 6.9%, the most in two years.What Bloomberg Intelligence says:“Kone has likely missed the opportunity to almost double its revenue and service-unit base to become the largest elevator company globally.”\--Mustafa Okur, BI Industrials analystThe announcement of the shortlist on Monday means that private-equity group Brookfield Asset Management Inc. and Temasek Holdings Pte. are also out of the running.It’s widely expected that the elevator unit could fetch more than 16 billion euros ($17.3 billion) -- making it one of the most closely watched transactions this year. At that price, it would also be the biggest private-equity acquisition in Europe since 2007, when KKR took Alliance Boots Plc private in a deal valued at more than $23 billion including debt, according to data compiled by Bloomberg.Thyssenkrupp reiterated that an initial public offering of elevator unit remains an option, if no agreement is reached. The shares slid 3.4% as of 4:53 p.m. in Frankfurt.The company, once a symbol of German industrial prowess, needs to sell its thriving elevator business to plug holes in its balance sheet and pay off a mountain of debt. Chief Executive Officer Martina Merz told shareholders last month that the company is in an “extremely difficult situation” and has “no time to lose.”Thyssenkrupp aims to sign a deal with a buyer by the end of the month, people with knowledge of the matter have said. Any transaction would add to the $16.2 billion of mergers and acquisitions involving German companies announced this year, according to data compiled by Bloomberg.(Updates with BI quote)To contact the reporter on this story: William Wilkes in Frankfurt at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Scent at email@example.com, Lynn Thomasson, Liezel HillFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
MGM Resorts International ("MGM Resorts") (NYSE: MGM), MGM Growth Properties LLC ("MGP") (NYSE: MGP) and Blackstone Real Estate Income Trust ("BREIT") today announced the closing of the previously announced transaction for a joint venture formed between MGP and BREIT to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion. In addition, BREIT has purchased approximately 4.9 million MGP Class A shares at a price of $30.67 per share.
Blackstone (NYSE:BX) announced that Ann Chung has joined the firm as a Managing Director in its Growth Equity investing platform, Blackstone Growth ("BXG"), where she will help to lead the group’s consumer sector vertical.
The following bids, mergers, acquisitions and disposals were reported by 1300 GMT on Friday: ** Kirin Holdings Co Ltd decided to oppose an UK-based activist's proposal to buy treasury shares worth 600 billion yen ($5.47 billion), the Japanese brewer and conglomerate said in a statement. ** Sirius Minerals said talks with a consortium of financial investors on an alternate debt financing proposal to raise $680 million has fallen through, putting the company at the risk of going under administration or liquidation. ** Malaysia's FGV Holdings has bought a 60% equity interest in RedAgri Farm for 10 million Malaysian ringgit ($2.42 million), marking its entry into dairy farming and fresh milk processing, the world's largest crude palm oil producer said.
The rapid growth in the leveraged loan market has attracted scrutiny from regulators on both sides of the Atlantic, sparking concern about the risks to the broader financial system in the event of an economic downturn following the record equity-market bull run. Private-equity firms are sitting on a mountain of cash, and valuations remain high, Dikeos said, but she doesn’t believe there is enough cash going into the loan asset class to overwhelm lender credit concerns. Record amounts flowing into private equity: Private-equity firms are managing more money than ever before, with assets under management crossing the $4.1 trillion mark in 2019, according to data provider Preqin.
(Bloomberg) -- Blackstone Group Inc.’s charitable foundation is giving $1 million to expand distribution of supplies and aid to more than 30 communities in China.The money will go to the One Foundation, founded by martial arts star Jet Li in 2007. It will be used for such items as kits to diagnose coronavirus and ECG monitors for pregnant women.“This has been an extremely, an exceptionally difficult situation for China,” Blackstone Chief Executive Officer Stephen Schwarzman said in a telephone interview. “Some of the people I know have described the impact as being similar to the Chinese as 9-11 was for Americans. As a firm, we wanted to show some support.”Schwarzman said the virus “has been enormously disruptive for anyone doing business in China” and that communicating with staff in the region is a priority. Blackstone offices in China reopened on Feb. 10. Employees in mainland China, Hong Kong and Singapore are encouraged to work from home, in line with government recommendations.“The most important thing is to let people know that you’re thinking about them,” Schwarzman said. “The second thing is to explain what the virus is. At the beginning, large groups didn’t have access to that information. It’s easier for us to talk to the heads of pharmaceutical companies, who have much more familiarity.”One Foundation has worked with local agencies to distribute millions of masks and gloves in 16 cities in Hubei province, the epicenter of the virus. The group has a network of more than 2,000 volunteers and staff conducting disinfection and prevention training across the country, Blackstone said Wednesday in a statement.Separately, a program Schwarzman created modeled after the Rhodes Scholarships and based at Tsinghua University in Beijing has adjusted to the outbreak. Some students have traveled home or to other locations, while safety protocols have been put in place for those wishing to stay, according to a person with knowledge of the matter. Spring term will include online classes, the person said.To contact the reporter on this story: Amanda Gordon in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, Steven CrabillFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.