New tax law could hurt Blackstone float
US tax law proposed by the leaders of the Senate
In a regulatory filing, Blackstone said that legislation introduced this week
by Democrat senator Max Baucus and
Republican member Chuck
Grassley would ‘materially increase our tax liability and could well result
in a reduction in the value of our common units’.
The company is facing growing political challenges to its planned $7.8bn
(£3.9bn) stock market listing.