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Actionable news in MAA: MID-AMERICA APARTMENT COMMUNITIES Inc,

Mid-America Apartment (MAA) Stock Lower, Acquires Post Properties in $3.88 Billion Deal

NEW YORK (TheStreet) -- Shares of Mid-America Apartment Communities (MAA) were slumping 5.82% to $96.10 in early morning trading on Monday as the Memphis-based real estate investment trust agreed to purchase Post Properties (POST) in an all-stock deal worth $3.88 billion.

Shares of the Atlanta-based REIT will be converted into shares of newly issued Mid-America Apartment stock worth 71 cents per share, the Wall Street Journal reports. Mid-America Apartment stockholders will own about 67.7% and former Post shareholders will own about 32.3% of the combined company that now has a market capitalization of...


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