In recent news, Mid-America Apartment Communities Inc (MAA) announced that it would be acquiring Colonial Property Trust (CLP) for about $2.2 billion in stocks. This transaction will make MAA the second-largest US multifamily company by units owned. According to the transaction, the shareholders will get 0.36 shares of MAA for each share of CLP that they own. According to the share prices on May 31 (at the time of the deal) the company offered an 11 percent premium to the price of CLP.
The Combined Entity
As can be seen from the tables above, the number-one state for both the companies is Texas. MAA has a significant number of properties in Texas, Florida and Georgia,...
Only subscribers can access this article, which is part of the PRO research library covering 3,758 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: