On Wednesday, in the course of current trade, Shares of Morgan Stanley (NYSE:MS), gained 0.29%, and is now trading at $37.83.
Morgan Stanley Global Private Equity, declared the sale of its majority interest in Creative Circle, a leading professional staffing firm specializing in advertising, creative and marketing talent, to On Assignment, Inc. (ASGN) for $570 million, plus up to $30 million in contingent consideration if certain financial performance measures are achieved in 2015. MSPE attained a majority stake in Creative Circle from its founders in September 2012 in a transaction that valued the company at $230 million.
When MSPE invested in Creative Circle, the investment team cited outsized demand for highly qualified creative talent driven by the rapid expansion of interactive and digital advertising and marketing. In addition, MSPE believed that Creative Circle stood poised to benefit from strong secular trends in the contingent labor market – a common theme behind MSPE’s approach to investing in businesses that solve “pain points” for small- and medium-sized businesses. For example, MSPE also had invested in EmployBridge, an Atlanta-based provider of specialty industrial staffing services, which it sold earlier this year in a successful exit.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The company’s Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
During an Afternoon trade, Shares of JDS Uniphase Corporation (NASDAQ:JDSU), showed no change to $12.37.
Today, JDS Uniphase will take part at the 16th Annual B. Riley & Co. Investor Conference in Los Angeles, CA.
B. Riley & Co. Investor Conference, Los Angeles, CA, Wednesday, May 13, 2015 2:00 - 2:25 p.m. PT (webcast), Alan S. Lowe, President of Communications and Commercial Optical Products (CCOP).
JDS Uniphase Corporation provides network and service enablement solutions and optical products worldwide. The company’s Network and Service Enablement segment offers network and service enablement solutions that enable the design, development, deployment, and maintenance of communication equipment and networks.
Shares of The Blackstone Group L.P. (NYSE:BX), during its Wednesday’s current trading session gained 0.24%, and is now trading at $42.64.
The Blackstone Group, priced its offering of €300 million of 2.000% senior notes due 2025 of Blackstone Holdings Finance Co. L.L.C., its indirect partner. The notes will be fully and unconditionally guaranteed by The Blackstone Group L.P. and its indirect auxiliaries, Blackstone Holdings I L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. Blackstone intends to use the proceeds from the notes offering for general corporate purposes.
The notes will be offered and sold to qualified institutional buyers in the United States following Rule 144A and outside the United States following Regulation S under the Securities Act of 1933.
The Blackstone Group L.P. is a publicly owned investment manager. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations.
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