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Blackstone To Buy American Campus Communities In $12.8 Bln Deal : Report

Blackstone Group Inc. (BX) agreed to buy the U.S. student-housing owner American Campus Communities Inc. (ACC) in a deal that values the company at about $12.8 billion including debt, the Wall Street Journal reported citing people familiar with the matter.

According to the Journal, Blackstone plans to pay $65.47 per share for American Campus Communities. The price represents a 13.7% premium over the stock's price at the end of Monday's trading session.

In Tuesday pre-market trade, ACC was trading at $65.05 up $7.47 or 12.97%.

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