Investor Seeks To Block $8.6B Colonial-MAA Merger

Law360, New York (August 21, 2013, 5:12 PM EDT) -- A shareholder hit Colonial Properties Trust and Mid-America Apartment Communities Inc. with a suit in Alabama federal court on Tuesday, seeking to block their proposed $8.6 billion merger and alleging that the companies failed to disclose crucial information that would have turned shareholders against the deal.

The complaint alleged that the proxy statement filed by MAA with the SEC in July failed to inform shareholders that Colonial ignored valid requests from other interested parties because of its unreasonable preference for a deal with MAA, and that the...
To view the full article, register now.