Market Updates
Blackstone to Acquire American Campus for $13 Billion
Barry Adams
19 Apr, 2022
New York City
Blackstone agreed to acquire American Campus Communities for $12.8 billion. The cash offer of $65.47 a share is 14% higher than the last close price of ACC.
The company has been looking for ways to return capital to shareholders after the activist investor controlled Land & Buildings has been urging the Board to sell its assets and buy back stock.
M&A activities in the REIT sector have been fueled by low interest rates and cheap REIT stocks.
In December, Blackstone also acquired Bluerock Residential Growth REIT for $3.6 billion.
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