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Invitation Homes to merge with Starwood Waypoint to create $11 billion rental company

Invitation Homes INVH, +0.77% which went public in February, is merging with StarWood Waypoint Homes SFR, -0.68% to create a company with a combined market value of $11 billion, the companies announced Thursday. The two companies, which both own and operate single-family rental homes in the U.S., have signed a definitive agreement to merge in a 100% stock-for-stock transaction, with each Starwood Waypoint Homes...