Blackstone swoops for Gramercy in £5.6bn deal

Tilburg warehouse gramercy

Blackstone has agreed a $7.6bn (£5.6bn) deal to buy Gramercy Property Trust.

Blackstone, the world’s largest property investment group, will acquire Gramercy at $27.50 a share in an all-cash transaction, which has been unanimously approved by Gramercy’s board of trustees and represents a 15% premium over the closing stock price on 4 May.

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