CHICAGO, Sept. 7, 2012 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include The Blackstone Group LP (NYSE:BX), Credit Suisse Group (NYSE:CS), Morgan Stanley (NYSE:MS), Jefferies Group, Inc. (NYSE:JEF) and Safeway (NYSE:SWY).
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Here are highlights from Thursday's Analyst Blog:
Blackstone to Buy GCA Services
On Wednesday, Blackstone Capital Partners V, L.P − a private equity fund managed by The Blackstone Group LP (NYSE:BX) − announced that it will acquire GCA Services Group from Nautic Partners, L.L.C. and other minor shareholders. The deal, anticipated to be completed in October this year, is subject to certain approvals by the government and other specific closing conditions.
Headquartered in Cleveland, Ohio, GCA provides quality facility services in the U.S.
In addition to financing the deal, Credit Suisse Group (NYSE:CS) and Morgan Stanley (NYSE:MS) played the role of merger and acquisition advisors to Blackstone. The legal counsel of the deal was Simpson Thacher & Bartlett L.L.P.
Robert W. Baird & Co. was the primary financial advisor to GCA, whereas
Jefferies Group, Inc. JEF) was the co-advisor. Legal counsel to GCA was Calfee, Halter & Griswold L.L.P.
Blackstone anticipates the deal to offer a remarkable prospect of investing in one of the leading firms in the business services segment, where the company has considerable proficiency. Further, GCA's attractive market position and brisk growth offers an added incentive. Blackstone is anticipating working with the exceptional management of GCA to carry on investing in the latter's growth.
Further, Robert Norton – the Chairman, President and CEO of GCA – stated that the deal offers a very good prospect to stimulate its gradual growth. The deal with Blackstone reflects the GCA's sustained dedication to grow dynamically, which will lead to enhanced service quality to the consumers. Moreover, Nautic Partners consider the Blackstone-GCA partnership to be an excellent collaboration, since the former has a remarkable growth history and is further seeking avenues to develop.
Blackstone currently retains a Zacks #3 Rank, which translates into a short-term Hold rating.
Safeway Plans IPO of Gift Card Biz
Leading food and drug retailer Safeway (NYSE:SWY) plans to take its majority-owned gift-card subsidiary Blackhawk Network Holdings public by next year. As per this preliminary plan, the company wants to file a registration statement for an initial public offering (IPO) of a minority stake in Blackhawk.
Although the number of shares on offer and the price range have yet to be released, based on the present market conditions the company expects this transaction to be executed by the first half of 2013.
Blackhawk, the worldwide gift card distribution network of Safeway, provides prepaid products and payment services to consumers through a network of retail store locations in the U.S., Canada, Europe, Mexico, Australia and various online channels. These prepaid products include closed loop or private branded cards, open loop or network branded cards, financial services products and telecom product brands.
The cards are available at grocery, big-box, convenience, pharmacy and specialty stores, and at Internet retailers including GiftCardMall.com. Additionally, Blackhawk provides card production services, a secondary market for prepaid cards and has recently introduced digital wallet services. Currently, the Blackhawk network connects to over 500 content providers and over 70,000 active retail distribution locations globally.
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