Tricon Residential Inc. Announces Receipt Of Investment Canada Act Approval For Take Private By Blackstone Real Estate For $11.25 Per Common Share In Cash
Portfolio Pulse from Benzinga Newsdesk
Tricon Residential Inc. (NYSE:TCN) has received Investment Canada Act approval for its acquisition by Blackstone Real Estate for $11.25 per share in cash. The transaction, already approved by shareholders and regulatory bodies, is expected to close by May 1, 2024. Following the closure, Tricon's shares will be delisted from the NYSE and TSX, and the company will deregister from the U.S. Exchange Act.
April 25, 2024 | 12:06 pm
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Tricon Residential Inc. is being acquired by Blackstone Real Estate for $11.25 per share in cash, with the transaction expected to close by May 1, 2024. Post-transaction, Tricon's shares will be delisted.
The acquisition by Blackstone Real Estate at $11.25 per share represents a significant event for Tricon Residential Inc., directly impacting its stock price and market presence. The expected delisting post-transaction completion will end its trading on public markets, making this news highly relevant and important for investors. The confidence in this analysis is high due to the clear details provided regarding the transaction's terms and regulatory approvals.
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