Milestone, Starwood in talks over raising initial $1.7 bln bid: Reuters
Milestone Apartments Real Estate Investment Trust, which last month agreed to be acquired by Starwood Capital Group for about $1.7 billion (US$1.3 billion), has started talks with the U.S. private investment firm about raising the initial bid, sources told Reuters. The move comes days after proxy advisory firm Institutional Shareholder Services issued a report recommending Milestone unitholders vote against the transaction. Milestone and Starwood could agree on a higher price and make an announcement as soon as early this week, the sources said. Dallas-based Milestone, which went public in Toronto in 2013, owns and manages apartment properties targeting blue-collar workers across the U.S. southeast and southwest.
27 February 2017•2 mins read
