NAA Industry Insider: Essex, BRE Will Combine in $15.4B Merger

Essex Property Trust Inc. and BRE Properties announced jointly on Thursday that they have officially agreed to merge and create the only publicly traded, pure play apartment REIT on the West Coast. The combined company will have a total market capitalization of approximately $15.4 billion. Each BRE common share will be converted into 0.2971 newly issued shares of Essex common stock plus $12.33 in cash under terms of the agreement.

Read more of today's Industry Insider.