We are investigating the fairness of the price of $39.12 per share in cash for which Apartment Income REIT Corp. (NYSE: AIRC) (“AIRC”) has agreed to be sold to Blackstone. The sales price is below the price targets for AIRC of at least two Wall Street analysts (source: TipRanks).
If you remain an AIRC shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On April 8, 2024, AIRC announced that it had agreed to be sold to Blackstone for $39.12 per share in cash.
“We are investigating whether the AIRC Board of Directors acted in the best interests of AIRC shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to AIRC shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
Notably, according to TipRanks, the sales price of $39.12 per share is below the price target of (i) $42.00 per share of John Kim at BMO Capital, and (ii) $40.00 per share of Michael Lewis at Truist Financial.