Blackstone Group Lp | featured news

The Oakmark Funds group, one of Dell's larger shareholders, sold its stake after Blackstone withdrew its potential bid for the PC maker.

Dell's 'deteriorating' financial condition leads to Blackstone deciding to withdraw its bid for the computer company.

J.C. Penney has hired bankers at Blackstone for advice on shoring up its fast-eroding cash. The company is seeking to raise about $1 billion. Bond analysts don't think Penney's operations will be able to generate enough cash to cover the company's needs beyond a year, putting pressure on new Chief Executive Myron "Mike" Ullman to cut costs and look for ways to raise new capital even as he tries to get more shoppers into stores.

Shares of Pinnacle Foods Inc (PF.N), owner of the Birds Eye and Duncan Hines brands, rose 13.7 percent in their New York Stock Exchange debut on Thursday. The stock was trading at $22.73 after the company backed by Blackstone Group LP (BX.N) raised $580 million in its initial public offering.

Michaels Stores, the arts and crafts retailer owned by the Blackstone Group and Bain Capital, plans to file to go public as soon as next week, in what could be one of the biggest initial public offerings of the year.

Private equity firm Blackstone Group LP has agreed to sell its 50 percent stake in Universal Orlando to Comcast-controlled NBCUniversal for $1.03 billion.