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Monday, November 25, 2013

Market Chatter- Corporate finance press digest, (NYSE: BX)

The following corporate finance-related stories were reported by media: * Chrysler Group LLC, the No. 3 U.S. automaker, has abandoned plans for an initial public offering this year so it can sort out a U.S. tax issue, according to two sources familiar with the process.* Blackstone Group LP is eyeing an IPO for La Quinta Inns & Suites rather than a sale of the hotel chain, according to a source familiar with the process.

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 2.86% or $0.78/share to $28.04. In the past year, the shares have traded as low as $14.32 and as high as $28.73. On average, 4686680 shares of BX exchange hands on a given day and today's volume is recorded at 4982683.