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BX - PS Business Parks stock jumps 11% after report of $7.6B sale to Blackstone
The Blackstone Group L.P. Representing Limited Partnership Interests
PS Business Parks (NYSE:PSB) stock is climbing 11% in Monday premarket trading after Bloomberg reported that Blackstone (BX) will buy the owner of industrial, flex and office spaces for $7.6B. Blackstone (BX) will pay $187.50 per share, or a 12% premium to PS Business Park's (PSB) closing price on Friday, Bloomberg said, citing a statement. Developing.. check back for updates.