Blackstone eyes Croesus Retail Trust buyout

Its buyout offer exceeded 12-month target by analysts.

Private equity giant Blackstone is seeing gold in Croesus Retail Trust as it proposes a buyout offer that exceeded brokerages' 12-month targets ranging from $1.08 to as low as $0.98.

According to RHB, Blackstone took a risk by making an offer when it had no prior stake in the trust and therefore having to build its stake up from scratch.

It noted that Blackstone is willing to brace the hefty price of $1.17 per unit, or more than $900 million in total for the trust.

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