Apartment Income REIT shares are trading higher after the company announced it will be taken private by Blackstone for roughly $10 billion.
Portfolio Pulse from Benzinga Newsdesk
Apartment Income REIT (AIRC) shares surged following the announcement of its acquisition by Blackstone in a deal valued at approximately $10 billion. This move will take AIRC private.
April 08, 2024 | 1:57 pm
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Apartment Income REIT's stock price increased after the announcement of being acquired by Blackstone for about $10 billion.
The acquisition news typically leads to a positive short-term reaction in the stock price of the company being acquired, as the buyout price often represents a premium to the market price prior to the announcement.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100