Blackstone Explores $10B IPO or Sale for Ancestry.com

Blackstone Inc. (NYSE:BX) is one of the best American stocks to buy and hold for the next 3 years. On September 25, Reuters reported that Private equity firm Blackstone is currently exploring strategic options for Ancestry.com, the popular genealogy and DNA testing platform. These options include pursuing an Initial Public Offering/IPO or an outright sale of the company.

Sources familiar with the matter, who requested anonymity, indicated that Blackstone has invited banks to submit proposals for an IPO, with requests being submitted earlier in the week of September 25. A public listing for the Lehi, Utah-based company could potentially value it at approximately $10 billion, although the discussions are in the early stages and details remain subject to change.

Blackstone is also considering the alternative option of selling the asset. However, the private equity firm has not finalized any decision and may opt to hold onto the asset for a longer period. Both Blackstone and Ancestry.com representatives have declined to comment on the matter.

Blackstone Inc. (NYSE:BX) is an alternative asset management firm that specializes in private equity, real estate, hedge fund solutions, credit, secondary funds of funds, public debt & equity and multi-asset class strategies.

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Disclosure: None. This article is originally published at Insider Monkey.