BioMed Realty Agrees To Be Acquired By Blackstone For $8 Bln Cash

(RTTNews) - BioMed Realty Trust, Inc. (BMR) has entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII, for Blackstone to acquire all outstanding shares of common stock of BioMed for $23.75 per share in an all-cash transaction valued at $8 billion.

The transaction represents a premium of 24 percent over the unaffected closing stock price on September 22, after which a media article was issued reporting a potential transaction involving BioMed.

The deal has been unanimously approved by BioMed Realty's Board of Directors. Completion of the transaction is currently expected to occur in the first quarter of 2016.

Apart from the common stock dividend of $0.26 per share previously declared on September 15, and payable on October 15, if the transaction is completed after January 1, 2016, BioMed stockholders will receive a per diem amount of $0.003 per share for each day from January 1, 2016 until the closing date.