Blackstone in Talks to Buy Kinetic Concepts: Report
In a deal that could be one of the biggest leveraged buyouts since the financial crisis, Blackstone Group is in talks to buy medical supplies firm Kinetic Concepts, according to a report in the Wall Street Journal.
Blackstone’s $16-billion buyout fund could help pay for the deal, which would be worth around $5 billion, the newspaper said.
As news of the rumored buyout circulated among Wall Street, Kinetic Concept’sshares jumped more than 12 percent by the close of the day’s trading.
Spokespeople for both Blackstone and Kinetic Concepts declined to comment on the report.