Equity Residential, AvalonBay to Merge for $52B Apartment REIT

Apartment REITs Equity Residential and AvalonBay Communities, Inc. on Thursday announced a definitive agreement to combine in an all-stock merger of equals. The new company will have a pro forma equity market capitalization of approximately $52 billion and a total enterprise value of approximately $69 billion, with more than 180,000 rental apartments and nearly 11,000...