Starwood slightly raises bid for Milestone Apartments REIT: Reuters
U.S. private investment firm Starwood Capital Group slightly raised its offer to buy Canada's Milestone Apartments Real Estate Investment Trust, weeks after proxy advisory firm ISS recommended unitholders to vote against the $1.7 billion deal, Reuters reported. Starwood raised its offer from US$16.15 per Milestone unit to US$16.25. Institutional unitholders, who make up 16 percent of Milestone's voting units, will vote in favour of the new offer, Milestone said. Milestone, which went public in Toronto in 2013, owns and manages apartment properties across the U.S. Southeast and Southwest.
22 March 2017•1 min read
