BusinessCorporate FinanceNew tax law could hurt Blackstone float

New tax law could hurt Blackstone float

US tax law proposed by the leaders of the Senate

Private equity firm Blackstone has
revealed that a new US tax law proposed by the leaders of the
Senate finance committee could
reduce its stock market valuation.

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.

Further reading:

Blackstone takes profits hit after accounting change

ICAEW head of corporate finance defends private equity

Private equity bosses face Treasury grilling

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