Avalonbay Communities (AVB) to Offer 14.5M Shares

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Go back to Avalonbay Communities (AVB) to Offer 14.5M Shares

AvalonBay (AVB) Prices 14.5M Offering at $130/Share

November 29, 2012 6:40 AM EST

AvalonBay Communities, Inc. (NYSE: AVB) announced today the pricing of a public offering of 14,500,000 shares of common stock at $130.00. The Company has also granted the underwriters a 30-day option to purchase up to an additional 2,175,000 shares. Settlement of the sale will occur on December 5, 2012.... More

Equity Residential (EQR), AvalonBay (AVB) to Acquire Archstone Enterprise in $16B Deal

November 26, 2012 4:03 PM EST

Equity Residential (NYSE: EQR) today announced that the company and AvalonBay Communities, Inc. (AvalonBay) (NYSE: AVB) have entered into an agreement with Lehman Brothers Holdings Inc. (Lehman) to acquire, for approximately $16 billion, the assets and liabilities of Archstone Enterprise LP (Archstone), which consists principally of a portfolio of high-quality apartment properties in major markets in the United States. Under the terms of the agreement, Equity Residential will acquire approximately 60% of Archstones assets and liabilities and AvalonBay will acquire approximately 40% of Archstones assets and liabilities. The transaction is expected to close during... More