Blackstone (BX) announced conversion from a publicly traded partnership to a corporation, expected to be effective July 1, 2019. The company said this paves the way for equity value appreciation by removing ownership restrictions and by expanding global investor universe. Blackstone expects the conversion to produce significant potential benefit at relatively modest additional tax cost. Estimated annual dilution to distributable earnings per common share is approximately 2-5% on an average over the next 5 years. Over the longer term, the dilution is projected to be approximately 12-13%.
from RTT - Earnings http://bit.ly/2PjSJuo
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