Monday, May 21, 2007
$4 billion Blackstone IPO set to debut in weeks
11:41 am ET May 21, 2007
DJIA
13,551
-4.71
S&P
1,525
+3.05
NASDAQ
2,578
+20.46
10Yr
4.81%
+0.002
$4 billion Blackstone IPO set to debut in weeks
NEW YORK
The Blackstone Group on Monday signaled it's ready to debut its stock
within weeks as the marquee private equity firm set its estimated price
range in a bid to become the richest U.S. initial public offering in
years with about $4 billion in proceeds.
GE sells plastics unit to Sabic for $11.6 billion
SAN FRANCISCO
General Electric Co. said Monday it will sell its GE Plastics business
to Saudi Arabia's Sabic in an $11.6 billion cash-and-debt assumption
deal, using the proceeds to fund share buybacks and restructuring.
Alltel's shares ring up gains in reaction to $27.5 billion buyout
