This morning the Telegraph reported that Blackstone was preparing an "audacious plan" to break up mining giant Rio Tinto. None of our usual sources has yet recovered from spending the weekend dressed as Santa Claus so we haven't been able to reach anyone on it. But DealBook, which has shown that its got some very good Blackstone sources in the past, has just reported that the story is "rubbish."
According to the Telegraph, Blackstone's bid is in the advanced planning stages. It is reaching out to a Chinese sovereign wealth fund and other possible partners and has appointed lawyers, spoken with bankers and got public relations folks on ready.
But DealBook calls bullshit on the entire story. We'd like to know what you think.
Blackstone plans audacious bid for Rio Tinto [Telegraph]
Bad Rumor: Blackstone’s ‘Bid’ for Rio Tinto [New York Times]
Posted by PBateman , Dec 10, 2007 9:32AM
Blackstone, Blackrock - what's the difference?
Carney, you mus be hitting the Mike's up early this morning.
Posted by DRF , Dec 10, 2007 9:33AM
Bullshit, can't let China control 1/3 of the iron ore market every reg. bod will block. Also, they would never be able to raise enough capital, even in a breakup.
Posted by just me , Dec 10, 2007 9:40AM
Return of the robber barons!! Why not take control of heating oil, gasoline and basic foods as well?? They could turn the world into their own company store.....what sort of name is RTZ anyways? Turn it into something cooler like, RTZexxoff....
Posted by , Dec 10, 2007 9:52AM
most likely Blackstone becomes the Warren Buffet of the recession led economy.
I think Warren Buffet, based on rumors, has bought the entire stock market already.
Soon it will be"Blackstone looking to buy________*"
*insert troubled company name here in hopes of popping it up for an institutional exit.
Posted by , Dec 10, 2007 10:26AM
total bullshit. name me *one* bank that will commit to back any PE firm for that amount of financing.
Posted by Random Banker , Dec 10, 2007 10:31AM
Carney:
Did you see the article in New York Mag today on Jeff Epstein and his "Egg Shaped Penis", Bess must be wetting herself right now.
Posted by , Dec 10, 2007 10:37AM
RB:
did you see the article in New York Mag today on you and your "tiny penis," your boyfriend's ass must be wetting itself right now.
Posted by just me , Dec 10, 2007 10:46AM
@anon-- that only happens if rb and his boyfriend went to haaaavaaaaaaaaddddd, otherwise, you'll find them over by the west side highway playing break the bronco with each other
Posted by , Dec 10, 2007 11:06AM
@10:46 Guys, guys. No one plays near the West Side Hwy anymore. How old are you? 60? We find each other in clubs with excellent music and hot bartenders. Or at events like Toys for Tots (which the gay boys run in NY) or Empire State Pride Agenda. Or on the beach in East Hampton. Or by meeting someones glance across the trading room. Welcome to the new century.
Posted by just me , Dec 10, 2007 11:10AM
I'm truly sorry for besmirching the name of the West Side highway......
Posted by , Dec 10, 2007 11:14AM
Apologies accepted on behalf of the WSH. Check out Toys for Tots next year, Metropolitan Pavilion, first Sunday in December. You'll have a blast. Gay boys really know how to throw a party.
Posted by , Dec 10, 2007 11:36AM
@ 11:14 - Is it you, Seth Peck? Will there be plenty of Mikes?
Posted by , Dec 10, 2007 11:55AM
@11:36 No, its not Seth. Mikes? No way - you know how many calories in that shit? Gay boys spend too much time at the gym and running around Central Park to be drinking stuff like that. Start sippin Mikes and we'll have those soft bellies like the straight boys (and girls). Although I do find it interesting that the brand name contains both "Mike" and "hard".