Starwood Waypoint Residential Trust SWAY, +12.70% and Colony American Homes (“CAH”) announced today the signing of a definitive merger agreement (“Agreement”) to combine the two companies in a stock-for-stock transaction. In connection with the transaction, SWAY will internalize the SWAY manager. The combined internally managed company (“the Company”) is expected to own and manage over 30,000 homes and have an aggregate asset value of $7.7 billion at the closing of the transaction. The merger is expected to achieve estimated annualized cost synergies of $40 – $50 million.
Source: www.marketwatch.com
Starwood Waypoint Residential Trust (“SWAY”) and Colony American Homes (“CAH”) announced today the signing of a definitive merger agreement (“Agreement”) to combine the two companies in a stock-for-stock transaction. In connection with the transaction, SWAY will internalize the SWAY manager. The combined internally managed company (“the Company”) is expected to own and manage over 30,000 homes and have an aggregate asset value of $7.7 billion at the closing of the transaction. The merger is expected to achieve estimated annualized cost synergies of $40 – $50 million.