09:00 AM EDT, 06/12/2024 (MT Newswires) -- Apartment Income REIT ( AIRC ) said Wednesday that proxy advisor Institutional Shareholder Services, or ISS, has recommended that the company's shareholders vote in favor of the proposed all-cash acquisition of Apartment Income REIT ( AIRC ) by Blackstone's (BX) Blackstone Real Estate Partners X.

Apartment Income shareholders are set to vote on the proposed deal at a special meeting on June 25, the company said.

Under a merger agreement between Apartment Income and Blackstone affiliates, Blackstone affiliates would acquire Apartment Income shares for $39.12 per share, with the deal expected to close around June 28, Apartment Income said.

Price: 38.79, Change: +0.06, Percent Change: +0.15