Blackstone to take Tricon Residential private in $3.5 billion deal (updated)

Tricon Residential

19/01/2024 14:10

(Adds details from release throughout)
       Jan 19 (Reuters) - Investment management company
Blackstone  BX.N  has agreed to take Canadian real estate firm
Tricon Residential  TCN.TO  private for $3.5 billion, the
companies said on Friday. 
    Under the deal, Blackstone will acquire all outstanding
shares of Tricon for $11.25 per share in cash, representing a
30.35% premium to its last close. 
    The transaction is expected to close in the second quarter
of this year. 
    
    

 (Reporting by Aishwarya Jain in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Aishwarya.Jain@thomsonreuters.com;))