Tricon Residential Inc. (TSE:TCN) has released an update.
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Blackstone has finalized the acquisition of Tricon Residential Inc., purchasing all outstanding shares at $11.25 each, culminating in a transaction value of $3.5 billion. Looking ahead, Blackstone commits to further developing Tricon’s $1 billion U.S. single-family homes and $2.5 billion Canadian apartment pipelines, while also investing in improving existing U.S. properties. The deal marks a new growth phase for Tricon, as they continue to provide quality housing in North America, with the shares set to be delisted from the NYSE and TSX following the completion of the transaction.
For further insights into TSE:TCN stock, check out TipRanks’ Stock Analysis page.