Blackstone to acquire Ancestry.com for $4.7 billion

(Reuters) – Blackstone Group Inc (BX.N) said on Wednesday it agreed to acquire genealogy provider Ancestry.com Inc from private equity rivals for $4.7 billion, including debt, placing a big bet on family-tree chasing as well as personalized medicine. Ancestry.com is the world’s largest provider of DNA services, allowing customers to trace their genealogy and identify genetic health risks with tests […]

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Blackstone's EagleClaw Midstream sues Caprock over troubled deal

(Reuters) – Private-equity backed EagleClaw Midstream is suing the former owners of Caprock Midstream, alleging they failed to disclose tens of millions of dollars of liabilities during acquisition talks. EagleClaw in 2018 acquired natural gas pipeline operator Caprock Midstream Holdings from Energy Spectrum Capital and Caprock Midstream Management for $950 million. After the deal closed, EagleClaw discovered “numerous issues and […]

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Blackstone's first-quarter profit rises but coronavirus weighs

(Reuters) – Blackstone Group Inc (BX.N), the world’s largest manager of alternative assets such as private equity and real estate, reported a 4% rise in its first-quarter distributable earnings on Thursday driven by a surge in management fees, even as its funds took a hit in the coronavirus-induced downturn. Blackstone posted a 16% rise in management and advisory fee revenue […]

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