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Home Properties sells itself to Lone Star for $7.6B

Jun 23, 2015 - The Deal Pipeline
Mergers and Acquisitions

Following months of speculation of merger talks, residential focused REIT Home Properties Inc. (HME) on Monday, June 22, agreed to be acquired by Lone Star Funds in an all-cash, take-private transaction valued at $7.6 billion.

Dallas-based private equity firm Lone Star will pay $75.23 per share for Home Properties common stock, representing a 9% premium on the target's closing price April 24, the day before merger rumors first emerged. The transaction value includes the target'...