American Campus Communities to acquire GMH Communities Trust

American Campus Communities to acquire GMH Communities Trust


American Campus Communities to acquire GMH Communities Trust (GCT) 5.59 : American Campus Communities (ACC 28.43) announces that it has entered into a definitive merger agreement pursuant to which American Campus Communities will acquire GMH Communities Trust for approx $1.4 bln including outstanding debt totaling approx $963 mln. Under the terms of the merger agreement, each common share of GMH and each unit of GMH's Operating Partnership will be entitled to receive at the closing of the merger 0.07642 of a share of ACC common stock and $3.36 in cash, or approx $5.53 in value based on the closing price of ACC's shares of common stock on February 11, 2008.