Tricon Residential shares are trading higher after the company announced it entered into an arrangement agreement where Blackstone Real Estate Partners X with Blackstone Real Estate Income Trust will acquire all outstanding common shares of the company.
Portfolio Pulse from Benzinga Newsdesk
Tricon Residential's stock is trading higher following the announcement of an arrangement agreement for its acquisition by Blackstone Real Estate Partners X and Blackstone Real Estate Income Trust, who will purchase all outstanding common shares.
January 19, 2024 | 4:00 pm
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Tricon Residential's stock is expected to rise in the short term due to the acquisition agreement with Blackstone entities, signaling a positive outlook for shareholders.
Acquisition announcements typically lead to an increase in the stock price of the company being acquired, as the offer price usually represents a premium to the current trading price. The news directly pertains to Tricon Residential and is critical for investors, as it affects the entire equity structure of the company.
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