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What's Going On With Blackstone Shares Premarket Wednesday?

Blackstone Inc. (NYSE:BX) shares are trading higher premarket today. The company is reportedly in early talks to acquire Retail Opportunity Investments Corp. (NASDAQ:ROIC). The buyout firm’s approach suggests it sees value in ROIC’s properties, which primarily include supermarkets and drugstores, reported Reuters. Blackstone’s interest follows a 10% drop in ROIC’s shares over the past year, lagging behind other real estate investment trusts (REITs). As per the report, no deal is guaranteed, and another bidder for ROIC could still emerge. Based in San Diego, California, ROIC owned 95 shopping centers totaling approximately 10.7 million square feet (994,000 square meters) as ...