Magazine Acquisition Buys Town & Country Real Estate Trust
Magazine Acquisition GP LLC has agreed to pay $40.20 a share for the Town & Country Trust (TCT), ending a bidding war for control of the multifamily real estate investment trust.
This offer beats a $40.15/share bid from Oriole Partnership LLC, which was tabled earlier this week.
The market value of TCT shares was down at the end of last week, closing at $40.34. The trust’s free market value hit a 52-week high of $41.38 at the height of the bidding war.