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Money Talks: Blackstone to Acquire BioMed in $8B Deal


The Blackstone Group has announced an agreement to acquire BioMed Realty Trust for roughly $8B, including debt.

Blackstone Real Estate Partners VIII affiliates will pay $23.75 a share in cash for the life science office space provider.

The transaction represents a 10% premium to BioMed's closing price on Wednesday, and a 24% premium to its closing price on Sept. 22, the day before news of a possible acquisition broke.

BioMed Realty has more than 18M SF of rental space in key markets like Boston-Cambridge, San Francisco, Seattle, and its home base, San Diego. Its revenue in 2014 was $674.6M.

The company's Board of Directors has unanimously approved the deal, which is expected to close in Q1 '16. [NYT]