Lone Star to Take Home Properties Private in $7.6B Transaction
June 23, 2015
Lone Star Funds has entered into a definitive agreement to acquire real estate investment trust Home Properties (NYSE: HME) in a take-private transaction valued at approximately $7.6 billion, including debt. Lone Star Funds will acquire all of the outstanding common stock of the REIT for $75.23 per share. The purchase price represents an 11% premium over the average closing price of the company's common stock for the 60 days ended April 24, the last trading day prior to media reports of a potential transaction. Goldman Sachs has fully committed $6.1 billion of financing for the deal, which is expected to close in 4Q.