Jackpot

CLP up more than 5% on the news:

MEMPHIS, Tenn. and BIRMINGHAM, Ala., June 3, 2013 /PRNewswire/ — MAA (MAA) and Colonial Properties Trust (CLP) today announced that they have entered into a definitive merger agreement under which MAA and Colonial Properties Trust will merge, creating a Sunbelt-focused, publicly traded, multifamily REIT with enhanced capabilities to deliver superior value for residents, shareholders and employees. The combined company is expected to have a pro forma equity market capitalization of approximately $5.1 billion and a total market capitalization of $8.6 billion.

I’ll investigate the deal more closely later.