UPDATE 1-Equity Residential, AvalonBay to merge in mega real estate deal
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Equity Residential EQR | 0.00 | |
AvalonBay Communities, Inc. AVB | 0.00 |
Adds details from the release in paragraph 2-4
May 21 (Reuters) - Equity Residential EQR.N and AvalonBay Communities AVB.N will combine in an all-stock deal to form a real estate company with a pro-forma market value of $52 billion, they said on Thursday.
AvalonBay shareholders will receive 2.793 shares of Equity Residential common stock for each share owned.
The deal is expected to close in the second half of 2026.
On closing, AvalonBay shareholders will own about 51.2% of the newly formed company, with Equity Residential shareholders the rest.