Financial Sector Stocks in Focus- The Blackstone Group L.P. (BX), Washington Prime Group Inc (WPG), Glimcher Realty Trust (GRT) – The Cinema Post
Saturday , March 25 2017
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Financial Sector Stocks in Focus- The Blackstone Group L.P. (BX), Washington Prime Group Inc (WPG), Glimcher Realty Trust (GRT)

The Blackstone Group L.P. (NYSE:BX) is planning to lift around $16B for its latest takeover fund, according to WSJ, quoting sources familiar with the matter. Blackstone Capital Partners VI involved several of the world’s leading private-equity investors, comprising the California Public Employees’ Retirement System as well as Canada Pension Plan Investment Board, the disclosures by these pension funds declared. The report showed that the company has already released marketing documents for Blackstone Capital Partners VII LP. Representatives at Blackstone were not right away available for comment outside regular U.S. business hours.

On the other side, Washington Prime Group Inc (NYSE:WPG) reported that it decided to purchase Glimcher Realty Trust (NYSE:GRT) in a stock as well as cash transaction worth at $14.20 a Glimcher common share. The total transaction worth, comparing the assumption of debt, is around $4.3B. Washington Prime Group WPG, has decided to purchase Glimcher Realty Trust GRT, in a stock-and-cash deal worth at $4.3B, including debt. The mutual firm will have a portfolio of 119 properties as well as around 68M square feet of gross leasable area, according to the firms in a joint statement. Glimcher shares jumped over around 30% in early trade, while Washington Prime Group shares were not yet active.