I grabbed more CLP for $23.32. The merger offer is good for at least another 4% of upside, in MAA stock. Of course, the deal is more volatile than, say, the BXG buyout (which was all cash) so maybe I get burned here. But I love the multifamily space and CLP’s apartment communities are golden.
As for whether or not I want to stick around and be a part of the new company, I’ll make that call later as things progress along.
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So I’m taking a quick and dirty look at this deal. The two companies have combined market cap of about $5 Billion. They have combined debt of $3.5 Billion. They will have a total of 85,000 apt units, gross revenues $1 Billion. Actually, I bot some maa on the dip.