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Private Equity

Blackstone Shares Jump On Plan To Convert Partnership Units Into Stock

by thestreet.com posted 5months ago 17 views
Click to view a price quote on KKR. : Blackstone (BX - Get Report)  shares jumped more than 8.5% Thursday after the largest U.S. private-equity firm disclosed plans to convert to a corporation from a publicly traded partnership in an attempt to appeal more broadly to regular stock investors. The conversion will allow investors to buy the shares without creating the need for a Schedule K-1, a special Internal Revenue Service tax form that's used to report earnings from partnerships, New York-based Blackstone said Thursday in a presentation on its website.

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