Blackstone Snags Australian Property Firm For $227M
In its bid for Valad, Blackstone offered $1.97 (AU$1.80) per share in cash, a 56 percent premium over Wednesday's closing price of $1.26. The U.S. firm also agreed to take on Valad's $654 million in debt.
The acquisition comes on the heals of another deal between Blackstone and a debt-laden Australian firm. In February, the giant equity firm bought roughly 600 U.S....
To view the full article, register now.