BUZZ-Equity Residential, AvalonBay fall after merger agreement

Equity Residential
AvalonBay Communities, Inc.

Equity Residential

EQR

0.00

AvalonBay Communities, Inc.

AVB

0.00

Y ** Shares of U.S.-based real estate investment trust Equity Residential EQR.N down 2% at $65 in early trading

** AvalonBay also falls nearly 2% to $183.07

** Equity Residential and AvalonBay Communities AVB.N agree to an all-stock merger to form a housing rental company with an enterprise value of $69  billion

** Under the deal, AvalonBay shareholders will receive 2.793 shares of Equity Residential common stock for each share they own

** After the deal closes in the second half of 2026, AvalonBay shareholders will own about 51%, and Equity Residential shareholders will own the rest

** AvalonBay CEO Benjamin Schall will lead the new company, while Equity Residential CEO Mark Parrell will retire after the deal closes

** Including session's moves, EQR up 3.1% and AVB increases 1% YTD


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