Avalonbay Communities (AVB) to Offer 14.5M Shares
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November 29, 2012 6:40 AM EST
AvalonBay Communities, Inc. (NYSE: AVB) announced today the pricing of a public offering of 14,500,000 shares of common stock at $130.00. The Company has also granted the underwriters a 30-day option to purchase up to an additional 2,175,000 shares. Settlement of the sale will occur on December 5, 2012.... More
November 26, 2012 4:03 PM EST
Equity Residential (NYSE: EQR) today announced that the company and AvalonBay Communities, Inc. (AvalonBay) (NYSE: AVB) have entered into an agreement with Lehman Brothers Holdings Inc. (Lehman) to acquire, for approximately $16 billion, the assets and liabilities of Archstone Enterprise LP (Archstone), which consists principally of a portfolio of high-quality apartment properties in major markets in the United States. Under the terms of the agreement, Equity Residential will acquire approximately 60% of Archstones assets and liabilities and AvalonBay will acquire approximately 40% of Archstones assets and liabilities. The transaction is expected to close during... More
