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Stock Market & Financial Investment News

News Breaks
February 18, 2014
07:59 EDTBX, ECABlackstone in talks to buy Encana assets, NY Post says
Blackstone Group (BX) is in "serious talks" to buy some assets from Encana (ECA), according to The New York Post, citing two sources close to the situation. The report notes that Encana said in January it was willing to sell its Deep Panuke natural gas project off Nova Scotia, though the company's CEO subsequently has said that it was not actively trying to sell Deep Panuke. Reference Link
News For ECA;BX From The Last 14 Days
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April 13, 2015
10:00 EDTECAOn The Fly: Analyst Upgrade Summary
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08:47 EDTECAEncana upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded to Buy with a $14 price target based on valuation, accelerated news flow from the Permian, and leverage to rising oil prices.
06:32 EDTBXReal estate is a big part of Blackstone's business, NY Times says
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April 10, 2015
16:19 EDTBXStocks finish week higher as investors speculate jobs data could delay rate hike
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16:14 EDTBXOn The Fly: Closing Wrap
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12:46 EDTBXOn The Fly: Midday Wrap
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08:03 EDTBXExcel Trust to be acquired by Blackstone for $15.85 per share, or about $2B
Excel Trust (EXL) announced that it has entered into a definitive agreement with Blackstone Property Partners, under which Blackstone (BX) will acquire all outstanding shares of common stock of Excel Trust for $15.85 per share in an all-cash transaction valued at approximately $2B. The transaction has been unanimously approved by Excel Trust's board and represents a premium of nearly 15% over the company's closing stock price on April 9. In addition to the common stock dividend of 18c per share payable on April 15, Excel Trust intends to pay an additional common stock dividend in July, but, under the terms of the agreement, not for any quarter thereafter. Completion of the transaction, which is currently expected to occur in the second half of 2015. The transaction is not contingent on receipt of financing by Blackstone. In connection with the closing of the transaction, the parties intend that Excel Trust L.P.'s $75M of 4.40% Senior Series A Notes due 2020 and its $25M of 5.19% Senior Series B Notes due 2023 will be repaid. Excel Trust L.P.'s $250M of 4.625% Senior Notes due 2024 are intended to remain outstanding following the closing.
08:00 EDTBXExcel Trust to be acquired by Blackstone for $15.85 per share, or about $2B
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06:38 EDTBXBlackstone and Wells Fargo confirm acquisition of GE real estate assets
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06:35 EDTBXGE releases financial details of GE Capital assets sale
Approximately $16B of after-tax charges are expected to be recorded in the first quarter of 2015 in connection with the plan of which about $12B are non-cash. The charges include taxes on repatriated earnings, asset impairments due to shortened hold periods, and charges on businesses held for sale, including goodwill allocation. GE expects that the earnings impact of the GE Capital exits will be offset by the buyback over the exit period. GE has amended its income maintenance agreement to guarantee all tradable senior and subordinated debt securities and all commercial paper issued or guaranteed by GECC. The guarantee will replace the current income maintenance covenant. GE will maintain substantial liquidity and capital through the transition and does not expect to issue incremental GE Capital long-term debt for at least five years. Commercial paper will be further reduced to approximately $5 billion by the end of 2015.
06:34 EDTBXGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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06:34 EDTBXBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
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06:34 EDTBXBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
06:31 EDTBXGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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April 9, 2015
16:17 EDTBXOn The Fly: Closing Wrap
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13:38 EDTBXGE close to selling real estate holdings, WSJ reports
General Electric (GE) is close to selling its real estate holdings to Blackstone (BX) and Wells Fargo (WFC), Wall Street Journal reports, citing people familiar with the matter. The portfolio has $30B in holdings, the Journal adds. Shares of GE moved up 25c to $25.26 following the report. Reference Link
April 8, 2015
10:58 EDTBXBlackstone inactivity may lend credibility to Hilton report, says Wells Fargo
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08:57 EDTBXBlackstone talks to buy Colombia mines blocked by arbitrator, Reuters reports
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08:02 EDTBXChinese investors rumored to ask Blackstone about Hilton stake, Daily Mail says
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07:13 EDTBXBlackstone, Corsair could take stake in First Eagle, Reuters reports
Blackstone and Corsair, two private equity firms, are in talks to buy a stake in First Eagle Investment Management, sources tell Reuters. The negotiations, which could value First Eagle at about $4B including debt, are ongoing and expected to continue "for weeks," the sources say. Reference Link
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