Blackstone Set To Acquire MacLean Power Systems In $4B Deal: Report

• The report noted that Blackstone outbid rivals seeking to buy MacLean, including ABB, after the Swiss-based company declined to raise its offer for the utility-parts company.
• Blackstone has been accelerating its investment in the infrastructure powering AI across a wide array of related areas, mainly in energy.
• In November, Blackstone, through its Blackstone Energy Transition Partners, announced a $1.2 billion investment to build Wolf Summit Energy.

Blackstone Inc. (BX) is reportedly closing in on a deal to buy MacLean Power Systems, valuing the latter for more than $4 billion.

According to a Bloomberg News report, citing people familiar with the matter, Blackstone is likely to announce the purchase of MacLean from Centerbridge Partners as soon as next week.

The report noted that Blackstone outbid rivals seeking to buy MacLean, including ABB, after the Swiss-based company declined to raise its offer for the utility-parts company.

Blackstone’s Energy Investments

In November, Blackstone, through its Blackstone Energy Transition Partners, announced a $1.2 billion investment to build Wolf Summit Energy, a fully contracted, 600-megawatt greenfield combined-cycle gas turbine power generation facility in Harrison County, West Virginia.

Blackstone has been accelerating its investment in the infrastructure powering AI across a wide array of related areas, mainly in energy. Blackstone Energy Transition Partners has also made recent investments in Hill Top Energy Center, a 620-megawatt natural gas power plant in Western Pennsylvania, and Potomac Energy Center, a 774-megawatt natural gas power plant in Loudoun County, Virginia.

In 2023, Blackstone announced the closing of the acquisition of Power Grid Components from Shorehill Capital LLC.

How Did Stocktwits Users React?

Shares of Blackstone rose nearly 2% during afternoon trading on Wednesday. Retail sentiment on Blackstone improved to ‘neutral’ from ‘bearish’ territory compared to a day ago, with message volumes at ‘low’ levels, according to data from Stocktwits.

Blackstone stock has declined by more than 15% this year and by nearly 23% over the last 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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