Blackstone Inc. (NYSE:BX) is regarded as one of the top American stocks to consider long-term. According to a report by Reuters on September 25, Blackstone is evaluating strategic possibilities for Ancestry.com, a well-known genealogy and DNA testing service. The firm is contemplating either pursuing an Initial Public Offering (IPO) or selling the company outright.
Insiders familiar with the situation, who chose to remain anonymous, mentioned that Blackstone has reached out to banks for IPO proposals, with submissions expected to have been made early in the week of September 25. If undertaken, a public listing for the Lehi, Utah-based entity could potentially peg its valuation at around $10 billion, although negotiations are still in preliminary stages and specifics could alter.
Additionally, Blackstone is mulling the option to divest the asset. Nevertheless, the private equity firm has yet to reach a conclusion and might choose to retain ownership of the asset longer term. Representatives from both Blackstone and Ancestry.com have opted not to comment further on the matter.
Blackstone Inc. (NYSE:BX) operates as an alternative asset management company, focusing on private equity, real estate, hedge fund solutions, credit, secondary funds of funds, public debt & equity, and multi-asset class strategies.
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Disclosure: None. This article originally appeared at Insider Monkey.
