Reginal Thomas
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Blackstone to buy BioMed Realty For $8 billion

Blackstone Group LP has agreed to acquire BioMed Realty Trust Inc. in a transaction valued at $8 billion. BioMed Realty Trust Inc supplies office space to healthcare companies. Shares for BioMed were up 8.6% at $23.35 in early market trading. Blackstone’s all-cash offer of $24.75 per share is a 10% premium to BioMed’s closing price on Wednesday.

BioMed owns properties comprising of about 18.8 million rentable square feet. The deal is expected to close early in 2016. Morgan Stanley & Co. advised BioMed Realty. Citigroup Global Market Inc J.P. Morgan Securities and Bank of America Merrill Lynch advised BlackStone.