NEW YORK (
TheStreet) -- The
S&P 500 is trying for its eighth consecutive positive close, although it is slightly in the red halfway through Thursday's session.
TheStreet's Brittany Umar and Antoine Gara break down the rest of the day's events.
The takeover bid from Michael Dell and Silver Lake Partners for
(DELL - Get Report) was approved by shareholders today and Hilton Worldwide filed for its IPO.
Umar said the offering could be up to $1.25 billion and will likely be one of the most closely watched of this year.
The company was bought by
The Blackstone Group
(BX - Get Report) in 2007 for $26 billion, Gara said.
He added that Blackstone has been focused on building out and leveraging the premium brand name of Hilton and has significantly cleaned up its financial profile.
Coupled with stronger cash flows and an improved EBITDA, the rebounding lodging market also makes for a better IPO environment, Gara said, concluding that the IPO will allow Blackstone to focus on other high-return assets.
-- Written by Bret Kenwell in Petoskey, Mich.