Deals
Lone Star to Buy Home Properties for $75.23 a Share
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A Lone Star Funds affiliate agreed to buy U.S. apartment landlord Home Properties Inc. in a transaction valued at about $7.6 billion, including debt.
Lone Star will pay $75.23 a share in cash for the Rochester, New York-based company, giving the deal an equity value of about $4.36 billion. The price is 9.2 percent more than Home Properties’ closing share price on April 24, the last trading day prior to media reports of a possible buyout. Home Properties will become privately held when the transaction is complete, according to a statement Monday.