4 Merger and Acquisitions Stock Stories Getting Attention On Monday
The Blackstone Group (NYSE:BX): Current price $20.96
According to Sky News, the two private equity firms Blackstone and Lion Capital are working jointly to submit a formal bid for two soft drinks put on the block by GlaxoSmithKline, which is a FTSE-100 pharmaceuticals maker. Blackstone and Lion have recruited bankers at Rothschild to advise them on their bid. Back in 2005, the companies purchased the European beverages division of Cadbury-Schweppes, divesting it four years afterwards to t he Japanese food and drink producer Suntory, for about 1.5 billion pounds. Suntory is now one of the rival bidders to Blackstone and Lion in the current auction.
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