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Stock Market & Financial Investment News

News Breaks
February 4, 2013
10:27 EDTHMEHome Properties increases quarterly dividend 6.1% to 70c per share from 66c
Home Properties announced a 4c per share increase to its regular quarterly cash dividend on common shares. The increase of 6.1% raises the quarterly dividend from 66c per share to 70c per share for the quarter ended December 31, 2012. The dividend is payable on February 26 to shareholders of record on February 14 and is equivalent to an annualized rate of $2.80 per share.
News For HME From The Last 14 Days
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June 23, 2015
10:00 EDTHMEOn The Fly: Analyst Upgrade Summary
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06:16 EDTHMEHome Properties upgraded to Equal Weight from Underweight at Morgan Stanley
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June 22, 2015
12:26 EDTHMEHome Properties downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Home Properties to Market Perform after the company entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds for $75.23 per share in cash. Wells believes another higher competing offer is likely to materialize.
09:00 EDTHMEUDR, Inc. to acquire six apartment communities in exchange for OP units
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08:57 EDTHMEHome Properties expects merger transaction to close during Q4
The board of Home Properties has unanimously approved the merger agreement and has recommended approval of the Home Properties Merger by the Home Properties stockholders and of the Home Properties OP Merger by the Home Properties OP unitholders. The transaction is expected to close during the fourth quarter of 2015, subject to the approval of the Home Properties Merger by the Home Properties stockholders and the approval of the Home Properties OP Merger by the Home Properties OP unitholders. The definitive agreement contains a "go shop" provision under which Home Properties may solicit alternative proposals from third parties during the next 30 calendar days on customary terms and conditions for transactions of this nature. The Home Properties Board, with the assistance of its advisors, has the right to actively solicit acquisition proposals during this period. There can be no assurances that this process will result in any alternative transaction.
08:56 EDTHMEUDR Inc. to acquire certain Home Properties assets in connection with merger
Concurrently with the execution of the merger agreement with Lone Star Funds, Home Properties (HME) has entered into an agreement to contribute a portfolio of up to six properties containing as many as 3,246 units to UDR (UDR) in exchange for a combination of cash and newly issued units. In connection with this transaction, existing holders of partnership units of Home Properties will have the opportunity to elect to exchange their Home Properties OP Units for 2.15 newly issued UDR DownREIT Units for each Home Properties OP Unit held, plus $3.01 in cash from Lone Star Funds. Unitholders who elect to receive UDR DownREIT Units in the OP Merger will also receive new tax protection for a period of 10 years from the closing date, regardless of the current tax protection status of their Home Properties OP Units. Prior to the Home Properties Merger and pursuant to the Merger Agreement, Lone Star Funds will acquire all of the Home Properties OP Units that are not owned by Home Properties and have not been exchanged as described above pursuant to a merger of Home Properties OP with a wholly owned subsidiary of Lone Star Funds (the "OP Merger"). In connection with the OP Merger, holders of Home Properties OP Units who have not exchanged their Home Properties OP Units as described above will receive $75.23 per unit in cash upon the closing of the OP Merger.
08:54 EDTHMEHome Properties agrees to be acquired by Lone Star Funds for $75.23 per share
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