Update: Market Chatter: Blackstone to Acquire 55.1% Stake in Infocom for Nearly $1.7 Billion-February 2024-www.financetom.com

Update: Market Chatter: Blackstone to Acquire 55.1% Stake in Infocom for Nearly $1.7 Billion

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

Update: Market Chatter: Blackstone to Acquire 55.1% Stake in Infocom for Nearly $1.7 Billion

May 31, 2024 5:05 AM

07:35 AM EDT, 05/31/2024 (MT Newswires) -- (Adds detail)

Blackstone (BX) has agreed to acquire a 55.1% stake in Japanese e-comics provider Infocom Corp. from Teijin Ltd. for about 260 billion Yen ($1.66 billion), Bloomberg reported on Friday, citing sources familiar with the matter.

The company may consider acquiring all of Infocom's shares through a takeover bid and share transfer in the future, according to the report.

Blackstone outbid rivals for the acquisition, Bloomberg reported, with Sony Music Entertainment, Japanese fund Integral Corp. and KKR & Co. also interested in a deal.

Spokespeople for Teijin and Blackstone declined to comment, Bloomberg reported.

Blackstone did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 119.30, Change: -0.03, Percent Change: -0.03

Previous page： Sector Update: Consumer Next page： Atmus Filtration Q2 Adjusted Earnings, Sales Rise; 2024 Outlook Updated -- Shares Gain Pre-Bell

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Sector Update: Consumer

Aug 2, 2024

08:48 AM EDT, 08/02/2024 (MT Newswires) -- Consumer stocks were mixed premarket Friday as the Consumer Staples Select Sector SPDR Fund (XLP) was up 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) fell by 3.6% recently. Church & Dwight ( CHD ) shares fell by more than 4% after the consumer goods company said it expects Q3 adjusted...

Atmus Filtration Q2 Adjusted Earnings, Sales Rise; 2024 Outlook Updated -- Shares Gain Pre-Bell

Aug 2, 2024

08:51 AM EDT, 08/02/2024 (MT Newswires) -- Atmus Filtration Technologies ( ATMU ) reported Q2 adjusted earnings Friday of $0.71 per diluted share, up from $0.63 a year earlier. Analysts polled by Capital IQ expected $0.58. Net sales for the quarter ended June 30 were $432.6 million, up from $413.6 million a year earlier. Analysts surveyed by Capital IQ expected...

Plains GP Holdings Q2 Net Income Falls, Revenue Rises

Aug 2, 2024

08:51 AM EDT, 08/02/2024 (MT Newswires) -- Plains GP Holdings ( PAGP ) reported Q2 net income Friday of $0.20 per diluted share, down from $0.25 a year earlier. Four analysts polled by Capital IQ expected $0.20. Revenue for the quarter ended June 30 was $12.93 billion, up from $11.6 billion a year earlier. Three analysts surveyed by Capital IQ...

FDA Approves Adaptimmune Therapeutics' Engineered Cell Therapy As First For Solid Tumor And New Therapy For Rare Soft Tissue Cancer In Over A Decade

Aug 2, 2024

Thursday, the FDA approved Adaptimmune Therapeutics ( ADAP ) plc’s Tecelra (afamitresgene autoleucel) for unresectable or metastatic synovial sarcoma, a rare type of cancer that tends to occur near large joints, mainly the knees. The approval covers patients who have received prior chemotherapy, are HLA-A*02:01P, -A*02:02P, -A*02:03P, or -A*02:06P positive, and whose tumor expresses the MAGE-A4 antigen. This indication is approved under...