Rice Energy Rumored IPO – Dan Rice Gets Last Laugh

Looks like Dan Rice, who had been the single most successful mutual fund manager in the United States for the past decade until he was fired from BlackRock last year, will get the last laugh. As we told you in June 2012, Dan was upfront about investing in and founding a Marcellus/Utica shale drilling company for his boys to run–Rice Energy. Even though BlackRock knew about Rice Energy and seemingly didn’t have a problem with Dan’s side venture, they never told investors and so when “word got out” they fired Dan instead of fessing up to their own error (see BlackRock’s Screw-up with Dan Rice & Rice Energy). Dan was transparent about Rice Energy, BlackRock was not.

Reuters has learned that Dan and the boys are about to take the company public with an initial public offering (IPO). Antero Resources’ recent IPO shows the market is hungry for shale energy companies to go public (see Antero’s Stock Climbs 18% on First Day of Trading). The timing Rice’s IPO is impeccable. It’s thought that Rice Energy may be valued as high as $2.5 billion at IPO. Looks like Dan will be laughing (at BlackRock) all the way the bank…

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