Under the deal, affiliates of Blackstone Real Estate will pay shareholders of PS Business Parks $187.50 for each share they own, marking a premium of nearly 12% to the stock’s last closing price.
The deal announced by the two companies comes less than a week after the world’s biggest alternative asset manager announced a $12.8 billion deal for student housing company American Campus Communities Inc (ACC.N). read more
Blackstone had in December agreed to buy Bluerock Residential Growth REIT in a $3.6 billion deal.
Register now for FREE unlimited access to Reuters.com
Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur
Our Standards: The Thomson Reuters Trust Principles.