{"id":6275,"date":"2007-07-04T00:00:00","date_gmt":"2007-07-04T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"blackstone-to-buy-hilton-for-20-billion","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2007\/blackstone-to-buy-hilton-for-20-billion.html","title":{"rendered":"Blackstone to buy Hilton for $20 billion"},"content":{"rendered":"<p>  Reuters- U.S. private equity firm Blackstone Group agreed on Tuesday to buy <span>Hilton Hotels Corp<\/span>. for about $20 billion plus debt, the richest in a series of recent private equity offers  for hotel companies.<\/p>\n<p>  Under terms of deal, Blackstone will pay $47.50 per share in cash, a 32 percent premium to Tuesday&#8217;s closing price, for one of the most prominent global hotel brand names.<\/p>\n<p>  Ahead of the post-close announcement, shares of Hilton had risen 6.4 percent to close at $36.05 on the <span>New York Stock Exchange<\/span>.<\/p>\n<p>  Options volatility and volume in Hilton stock was well above average before the close of trade on Tuesday, said Paul Foster, an options strategist at <a href=  \"http:\/\/us.rd.yahoo.com\/dailynews\/nm\/bs_nm\/storytext\/hilton_blackstone_dc\/23621410\/SIG=10s7c0395\/*http:\/\/theflyonthewall.com\"><span>theflyonthewall.com<\/span><\/a>.<\/p>\n<p>  Blackstone, which raised $4.1 billion in an initial public offering late last month, said it intends to invest in the Hilton properties and brands globally to grow the business.<\/p>\n<p>  The hotel industry is enjoying a multiyear boom as robust demand has allowed hoteliers to steadily raise rates. The upbeat market environment, supported by limited construction of new hotels, has  made lodging assets hot commodities.<\/p>\n<p>  <a href=\"http:\/\/us.rd.yahoo.com\/dailynews\/rss\/business\/*http:\/\/news.yahoo.com\/s\/nm\/20070704\/bs_nm\/hilton_blackstone_dc\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters- U.S. private equity firm Blackstone Group agreed on Tuesday to buy Hilton Hotels Corp. for about $20 billion plus debt, the richest in a series of recent private equity offers for hotel companies. Under terms of deal, Blackstone will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6275","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6275"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6275\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}