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Thursday, January 30, 2014

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

The following corporate finance-related stories were reported by media: * Hedge fund owners of TI Automotive have hired the advisory arm of Blackstone Group LP to evaluate a range of options for the auto parts maker, including an initial public offering or a sale to private equity, according to people familiar with the matter.* Blackstone Group LP, TPG Capital LP and CVC Capital Partners Ltd are on a short list of takeover firms competing to acquire Gates Global Inc, in a deal expected to value the industrial company at $5 billion to $6 billion, according to people familiar with the matter.

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 4.2% or $1.3/share to $32.23. In the past year, the shares have traded as low as $17.63 and as high as $33.41. On average, 4237370 shares of BX exchange hands on a given day and today's volume is recorded at 14547950.