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GPT

Acquired by BX

$27.42

0.01 (0.04%)

, BX

Blackstone

$36.10

0.12 (0.33%)

12:01
08/09/18
08/09
12:01
08/09/18
12:01

Gramercy Property Trust investors approve acquisition by Blackstone

Gramercy Property Trust (GPT) announced that its shareholders approved the acquisition of Gramercy by affiliates of Blackstone Real Estate Partners VIII L.P. (BX) at its special meeting of shareholders held earlier today. As announced previously, on May 6, 2018 Gramercy entered into a definitive agreement with affiliates of Blackstone, under which Blackstone will acquire all outstanding common shares of Gramercy for $27.50 per share, plus, if the transaction is consummated after October 15, 2018, a per diem amount of approximately $0.004 per share for each day from and after such date until (but not including) the closing date, in an all-cash transaction valued at approximately $7.6B. Subject to the satisfaction or waiver of all the conditions to the transaction as described in the Merger Agreement, the transaction is expected to be completed in either September or the first-half of October of this year. Upon the closing of the transaction, trading of Gramercy's shares on the New York Stock Exchange will cease.

GPT

Acquired by BX

$27.42

0.01 (0.04%)

BX

Blackstone

$36.10

0.12 (0.33%)

  • 09

    Aug

GPT Acquired by BX
$27.42

0.01 (0.04%)

05/07/18
MUFG
05/07/18
NO CHANGE
Target $27.5
MUFG
Overweight
Gramercy Property Trust unlikely to receive topping bid, says MUFG
MUFG analyst Karin Ford believes Blackstone Real Estate (BX) is paying a fair price for Gramercy Property Trust's (GPT) industrial real estate and that a topping bid is not likely. However, a higher bid is "not out of the realm of possibility given high levels of private equity and real estate capital formation, a long-term secular industrial growth thesis, and few remaining public industrial portfolios," Ford tells investors in a research note. She raised her price target for Gramercy Property Trust to $27.50 from $26 to reflect the deal price and keeps an Overweight rating on the shares.
05/08/18
STFL
05/08/18
DOWNGRADE
Target $27.5
STFL
Hold
Gramercy Property Trust downgraded to Hold from Buy at Stifel
Stifel analyst Simon Yarmak downgraded Gramercy Property Trust (GPT) to Hold from Buy after the company agreed to be acquired by Blackstone (BX) for $7.6B, or $27.50 per share. He does not believe another bidder coming over the top with a higher bid is the most likely scenario and thinks management is doing the right thing for shareholders.
05/17/18
LTCO
05/17/18
DOWNGRADE
LTCO
Neutral
Gramercy Property Trust downgraded to Neutral from Buy at Ladenburg
Ladenburg Thalmann analyst John Massocca downgraded Gramercy Property Trust to Neutral saying current relative valuations "seem fair" given the proposed all cash acquisition offer.
07/10/18
MUFG
07/10/18
DOWNGRADE
Target $27.5
MUFG
Neutral
Gramercy Property Trust downgraded to Neutral from Overweight at MUFG
MUFG analyst Karin Ford downgraded Gramercy Property Trust (GPT) to Neutral with an unchanged price target of $27.50 citing the company's agreement to be acquired by Blackstone (BX).
BX Blackstone
$36.10

0.12 (0.33%)

05/21/18
LEHM
05/21/18
UPGRADE
LEHM
Equal Weight
LaSalle Hotel upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Felicia Kantor Hendrix upgraded LaSalle Hotel (LHO) to Equal Weight from Underweight following the company's announcement that it has agreed to be acquired by Blackstone (BX).
05/22/18
BARD
05/22/18
DOWNGRADE
Target $34
BARD
Neutral
LaSalle Hotel downgraded to Neutral from Outperform at Baird
Baird analyst Michael Bellisario downgraded LaSalle Hotel (LHO) to Neutral following its buyout offer from Blackstone (BX). The agreement puts the shares at full valuation and essentially matches his buyout math. As a result, he believes a higher bid is unlikely. Bellisario raised his price target to $34 from $32 on LaSalle Hotel shares.
06/08/18
BUCK
06/08/18
NO CHANGE
Target $46
BUCK
Buy
Aspen Insurance exit value $48-$50 per share, says Buckingham
Buckingham analyst Amit Kumar says a 1.25 to 1.3 times multiple on Aspen Insurance's (AHL) current book value gives an exit value of $48-$50 per share. Insurance Insider published a story yesterday that noted the potential finalists in the Aspen bidding process are Blackstone (BX) and Apollo (APO), Kumar tells investors in a research note. He continues to be a buyer of the stock with a Buy rating and $46 price target.

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Energizer

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OIH

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SERV

ServiceMaster

$41.14

0.11 (0.27%)

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CRM

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$137.57

0.28 (0.20%)

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SPX

S&P 500

$0.00

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$264.35

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S&P 500

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SPDR S&P 500 ETF Trust

$264.35

0.26 (0.10%)

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TSLA

Tesla

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3.685 (1.01%)

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TWI

Titan International

$5.47

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  • 14

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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HY

Hyster-Yale Materials

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SSD

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AKBA

Akebia

$9.14

0.26 (2.93%)

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CZR

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URBN

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KERX

Keryx

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TCMD

Tactile Systems

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