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Blackstone Inc (NYSE:BX) has reportedly agreed to purchase Japanese e-comics provider Infocom Corp.
Blackstone is set to acquire a 55.1% stake in Infocom from Tokyo-listed Teijin Ltd., according to a report from Bloomberg. Blackstone had offered about ¥260 billion ($1.66 billion) for the company, the report added.
Blackstone may aim to secure all of Infocom’s shares through a takeover bid and share transfer. The firm was selected as the buyer after surpassing bids from Sony Music Entertainment, Japanese fund Integral Corp., and KKR & Co Inc (NYSE:KKR), as per the report.
Also Read: Blackstone To Grant Equity To Rank-And-File Employees At US Buyouts: Report
Infocom shares have soared about 96% this year, bringing the company’s valuation to roughly $1.8 billion.
Blackstone had $1.1 trillion in assets under management at the end of the previous year.
Blackstone stock has gained more than 39% in the last 12 months. Investors can gain exposure to the stock via First Trust Growth Strength ETF (NASDAQ:FTGS) and Amplify AI Powered Equity ETF (NYSE:AIEQ).
Price Action: BX shares closed higher by 2.76% at $119.33 on Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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