Mid-America Apartment confirms deal to buy Post Properties for nearly $4 billion
Mid-America Apartment Communities Inc. confirmed Monday that it will buy Post Properties Inc. in an all-stock deal that values the apartment owner at just under $4 billion. Under terms of the deal, each Post Properties stock will be exchanged for 0.71 shares of new MAA stock. Based on Friday's closing prices, that values Post Properties shares at about $72.53 each, or a 17% premium. With about 53.5 million shares outstanding, according to FactSet, the bid would value Post Properties at about... Читать дальше...