BRIEF-AvalonBay Communities And Equity Residential Announce Merger Of Equals

Equity Residential
AvalonBay Communities, Inc.

Equity Residential

EQR

0.00

AvalonBay Communities, Inc.

AVB

0.00

May 21 (Reuters) - Equity Residential EQR.N:

  • AVALONBAY COMMUNITIES AND EQUITY RESIDENTIAL ANNOUNCE MERGER OF EQUALS, CREATING ONE OF THE COUNTRY'S LEADING REAL ESTATE COMPANIES

  • EQUITY RESIDENTIAL - COMBINED COMPANY TO HAVE $52 BILLION EQUITY MARKET CAP, $69 BILLION ENTERPRISE VALUE

  • EQUITY RESIDENTIAL - AVALONBAY SHAREHOLDERS TO OWN 51.2%, EQUITY RESIDENTIAL 48.8% OF COMBINED COMPANY

  • EQUITY RESIDENTIAL - AVALONBAY SHAREHOLDERS TO RECEIVE 2.793 EQUITY RESIDENTIAL SHARES PER AVALONBAY SHARE

  • EQUITY RESIDENTIAL - COMBINED COMPANY TO DELIVER INITIAL ANNUALIZED DIVIDEND OF $2.81 PER SHARE

  • EQUITY RESIDENTIAL - MERGER EXPECTED TO GENERATE $175 MILLION GROSS, $125 MILLION NET SYNERGIES

Source text: ID:nBwc9GstDa

Further company coverage: EQR.N


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