Tricon Residential Inc. Receives Final Court Approval For Take Private By Blackstone Real Estate, Will Acquire All Of The Outstanding Common Shares Of The Tricon For $11.25 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Tricon Residential Inc. (NYSE:TCN) has received final court approval for its acquisition by Blackstone Real Estate, with all outstanding shares to be acquired for $11.25 each in cash. The transaction, subject to regulatory approval, is expected to close in Q2, leading to Tricon's delisting from the NYSE and TSX.
April 05, 2024 | 9:06 pm
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Blackstone Real Estate, part of Blackstone Group (BX), is acquiring Tricon Residential Inc. This strategic acquisition is expected to expand Blackstone's real estate portfolio.
The acquisition of Tricon Residential by Blackstone Real Estate, a subsidiary of Blackstone Group (BX), is likely to have a positive short-term impact on BX's stock price. This move signifies a strategic expansion of Blackstone's real estate portfolio, which could be viewed positively by investors. However, the direct impact on BX's stock might be less pronounced compared to TCN due to the broader diversification of Blackstone's investments.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Tricon Residential Inc. is being acquired by Blackstone Real Estate for $11.25 per share, with the transaction expected to close in Q2. This will result in the delisting of Tricon from the NYSE and TSX.
The acquisition of Tricon by Blackstone Real Estate at $11.25 per share represents a significant event for shareholders, likely leading to a positive short-term impact on TCN's stock price as the transaction price may represent a premium. The delisting from the NYSE and TSX post-acquisition will end its public trading, making this news highly relevant and important for investors.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100