BUZZ-Legence slips as Blackstone looks to cut stake in secondary offering
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Legence's shares fell 4.4% to $46.35 after announcing a secondary offering of 7 million shares by Blackstone. Goldman Sachs and Jefferies are lead managers, with Blackstone Capital Markets as co-manager. Legence went public in September with a $728 million IPO. The stock is rated "buy" by 14 brokerages, with a median price target of $46. Since its debut, the stock has risen 73%.
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