U.S. stock market anomaly | Blackstone (BX.US) rises more than 5%, investing $1.6 billion to acquire electrical equipment service provider Shermco.

Wisdom Financial APP learned that on Friday, Blackstone (BX.US) rose more than 5%, reaching $172.14. In terms of news, Blackstone Group recently announced the acquisition of electrical equipment service provider Shermco for $1.6 billion. The company focuses on providing professional services such as electrical testing, maintenance, debugging, and repair for utilities, industrial, and energy sectors in North America. This acquisition will further enhance Blackstone's presence in the infrastructure and energy services sector, and also provide Shermco with broader market resources and business development support.