EDR Stock Price – Education Realty Trust Inc. Stock Quote (U.S.: NYSE)

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Education Realty Trust agrees to Greystar-led $4.6 bln takeover

Education Realty Trust, Inc. , a developer of college housing, said Monday it has entered into a definitive merger agreement to be bought by the newly formed Greystar Student Housing Growth and Income Fund, LP, in an all-cash deal valued at around $4.6 billion, including debt. Under the merger agreement, EdR shareholders will receive $41.50 per share in cash, a premium of 26.3% over the 90-day volume-weighted average share price ending May 31, 2018, and a premium of 13.6% over the May 31, 2018, closing share price, the student housing company said in a statement. EdR has partnerships with 50 universities in 25 states and provides housing at such schools as the University of North Carolina, Chapel Hill, and the University of California, Berkeley.





Source : MTV