US Stocks Movement | Blackstone (BX.US) Rises Over 5% with $1.6 Billion Acquisition of Electrical Equipment Service Provider Shermco
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On Friday, Blackstone (BX.US) rose over 5%, closing at $172.14. In news, Blackstone Group recently announced its acquisition of electrical equipment service provider Shermco for $1.6 billion. The company focuses on providing specialized services such as electrical testing, maintenance, commissioning, and repair for utilities, industrial, and energy sectors in North America. This acquisition will further enhance Blackstone's positioning in the infrastructure and energy services sector, while also providing Shermco with broader market resources and business development support.
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