A top shareholder in $3.1 billion market cap Stilwell Financial has hired The Blackstone Group of New York to eyeball Stilwell's proposed restructuring, but it probably will have little impact, said at least one analyst.

And the Street agrees, having barely moved Stilwell's stock. On Dec. 2, when Highfields Capital Management filed its 13D beneficial ownership document with the SEC containing the Blackstone news, the stock dipped seven cents to close at $14.77. Last Tuesday, shares of the Denver-based holding firm opened at $13.10.

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