Whitestone receiving takeover interest from private equity, Reuters says

Private equity firms including Blackstone (BX) and TPG (TPG) have expressed interest in acquiring Whitestone REIT (WSR), Svea Herbst-Bayliss of Reuters reports, citing three people familiar with the matter. Whitestone has hired Bank of America (BAC) to oversee the possible takeover proceedings, sources told Reuters. The buyout interest comes weeks after the company was notified that it now faces two proxy fights for board seats, the people added. The private equity firms have signed confidentiality agreements Whitestone, according to the sources. Shares of Whitestone REIT are up 5% to $15.75 in premarket trading.