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Stock Market & Financial Investment News

News Breaks
June 12, 2014
06:53 EDTAECAssociated Estates downgraded to Sell from Neutral at Citigroup
News For AEC From The Last 14 Days
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April 27, 2015
11:11 EDTAECHome Properties takeover speculation not surprising, says Wells Fargo
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April 22, 2015
15:38 EDTAECAssociated Estates downgraded to Market Perform from Outperform at Wells Fargo
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10:17 EDTAECHigh option volume stocks
High option volume stocks: CAMP FTI NUVA ASHR MDRX AEC OIL TEL PODD SMCI
09:17 EDTAECBrookfield agrees to acquire Associated Estates for $28.75 per share in cash
Associated Estates (AEC) announced its board has unanimously approved a definitive merger agreement under which a real estate fund managed by Brookfield Asset Management (BAM) will acquire all outstanding shares of common stock of Associated Estates for $28.75 per share in cash. The transaction is valued at approximately $2.5B including the assumption of debt. Completion of the transaction is contingent upon customary closing conditions. The company will convene a special meeting to seek the approval of Associated Estates shareholders, and the annual meeting previously scheduled for May 22, 2015 has been postponed indefinitely. The transaction is not contingent on receipt of financing by Brookfield. Closing is expected to occur in the second half of 2015. Associated Estates intends to pay the previously announced common stock dividend of 21c per share on May 1, 2015 to shareholders of record as of April 15, 2015. The Company does not expect to pay additional dividends prior to the closing of the merger.

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