Invitation Homes, Starwood Waypoint merging in stock-for-stock deal
Invitation Homes Inc. signed a definitive agreement to combine with fellow single-family rental real estate investment trust Starwood Waypoint Homes in a 100% stock-for-stock merger of equals.
The deal would create an entity with an equity market capitalization of approximately $11 billion and a total enterprise value of $20 billion, based on both companies' closing stock prices Aug. 9. Blackstone Group LP is the majority stockholder of Invitation Homes.
The combined entity will oper...