Investment firm Starwood Capital Group said it would buy Canada’s Milestone Apartments Real Estate Investment Trust at a higher price than its previous offer.
The new offer comes weeks after proxy advisory firm ISS recommended Milestone unitholders vote against a deal in which the real estate firm agreed to be acquired by Starwood for about C$1.7 billion ($1.3 billion).
Starwood on Wednesday raised its offer to $16.25 per Milestone unit from $16.15 per unit.
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