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Equity Inns Agrees to Be Acquired by Whitehall BusinessWire 6-21 ENN announced that it has entered into a definitive merger agreement under which an affiliate of Whitehall Street Global Real Estate Limited Partnership 2007 will acquire Equity Inns, Inc. in a transaction valued at approximately $2.2 billion, including debt. Under the terms of the agreement, Whitehall will acquire all of the outstanding common shares of Equity Inns, Inc. for $23.00 per share in cash. This represents a premium of approximately 28% over Equity Inns' 90 day average closing share price and a premium of approximately 19% over Equity Inns' closing price on June 20, 2007. Equity Inns intends to pay its regular quarterly common share dividend for the quarter ending June 30, 2007, as previously announced on June 14, 2007 and under the terms of the merger agreement, Equity Inns is permitted to continue to pay regular quarterly dividends to shareholders of up to $0.25 per share, plus a prorated dividend for any partial quarter, prior to the closing of the transaction. Since 1991, Goldman, Sachs, through the Whitehall Street Real Estate Funds, has raised over $20.0 billion of discretionary equity capital across 10 funds and has acquired assets that represent a cost basis of approximately $60.0 billion. Tishman, Lehman to Buy Archstone-Smith AP 5-29 Archstone-Smith, a major owner of apartment buildings, said Tuesday it had agreed to a Tishman Speyer-led buyout valuing the company at about $15.5 billion, but investors indicated they were expecting a higher bid. Tishman Speyer, owner of New York's Rockefeller Center and the Chrysler building, was joined by Lehman Brothers Holdings Inc. in the friendly takeover bid, which would turn one of the largest publicly traded real estate trusts over to private investors. Archstone's board approved the deal unanimously at a price of $60.75 per share. The price represents a 22.7% premium over Archstone's Thursday closing price. Real estate investment trust analyst Craig Leupold of Green Street Advisors said the Tishman deal undervalues the company. "In our opinion, that's a disappointing outcome for shareholders," Leupold said. "We don't think the price fully reflects the value of the company." On 8-29 BMO Capital Markets Upgraded MAA from Market Perform to Outperform. On 8-10 Banc of America Downgraded EQR from Buy to Neutral. On 7-02 UBS Downgraded BRE from Buy to Neutral and CPT from Buy to Neutral. On 9-20 KeyBanc Capital Initiated coverage of DRH at Hold, Initiated LHO at Hold, and Initiated SHO at Hold. On 8-03 Robert W. Baird Downgraded AHT from Outperform to Neutral. On 7-30 UBS upgraded HT from Neutral to Buy. On 9-20 PPS declared a dividend $0.45/share payable on October 15, 2007 to all common stock shareholders of record as of September 28, 2007. On 9-18 ESS declared a dividend of $.93/share payable October 15, 2007, to shareholders of record as of September 28, 2007. On 9-13 GCT declared a dividend of $0.1650/share payable on October 15, 2007 to shareholders of record at the close of business on September 27, 2007. On 9-12 AVB declared a dividend of $0.85/share payable October 15, 2007 to stockholders of record as of September 28, 2007. On 8-24 MAA declared a dividend of $0.605/share payable on October 31, 2007 to shareholders of record on October 15, 2007. On 8-17 EQR declared a dividend of $0.4625/share to be paid on October 12, 2007 to shareholders of record on September 17, 2007. On 8-15 BRE declared a dividend of $0.5375/share payable September 28, 2007 to shareholders of record on September 14, 2007. On 8-07 ACC declared a dividend of $0.3375/share payable on September 4, 2007, to shareholders of record at the close of business on August 23, 2007. On 8-02 HME declared a divdend of $0.65/share payable on August 24, 2007 to shareholders of record on August 13, 2007. On 8-01 AIV declared a dividend of $0.60/share payable on August 31, 2007 to shareholders of record on August 17, 2007. On 7-10 EDR declared a dividend of $0.205/share payable August 8, 2007, to shareholders of record as of the close of business on July 24, 2007. On 7-03 UDR declared a dividend of $0.33/share, payable on July 31, 2007 to UDR common stock shareholders of record as of July 13, 2007. On 9-21 HT declared a dividend of $0.18/share payable on October 16, 2007 to shareholders and unitholders of record on September 28, 2007. On 9-17 AHT declared a dividend of $0.21 per diluted common share, payable on October 15, 2007, to shareholders of record on September 28, 2007. On 9-17 HST declared a dividend of $0.20/share payable on October 15, 2007 to stockholders of record on September 30, 2007. In addition, HST expects to declare a special dividend during the fourth quarter in the range of $.10 to $.20. On 9-12 ENN declared a dividends of $0.25/share payable on the earlier of the third business day after the closing date of ENN's pending merger with an affiliate of Whitehall Street Global Real Estate or November 1, 2007. On 8-29 DHR declared a dividend of $0.24/share to shareholders of record as of September 7, 2007 and paid on September 18, 2007. On 7-02 HPT declared a dividend of $0.76/share to be paid on or about August 16, 2007 to holders of record as of the close of business on July 12, 2007. NOTE: Although the tables above are checked and double-checked for accuracy, and may at times be 100% accurate - do NOT count on that. Please confirm through your own research any numbers on which you are to make a buy, sell or hold decision. Most sites giving this kind of data would say that it's information is for entertainment purposes only. I will not presume that you are that masochistic. And even accurately replicated and freshly retrieved FFO numbers are often stale. Home Page Previous REIT Update Top Sites |