MAA - Aimco Receives Takeover Approach - Shares Could Be Worth 25+% More In A Buyout
- Yesterday, Aimco announced it received a buyout overture from Westdale Partners but there was no discussion of price.
- I estimate that Aimco is worth 25%+ more than its current share price based on private market valuations.
- While the private market for apartments is strong, most apartment REITs sell at a discount to private market value and could also attract buyout interest.
- Alternatively, apartment REITs could deliver immediate value to shareholders via debt financed recapitalization and I provide an example of how this might look.
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Aimco Receives Takeover Approach - Shares Could Be Worth 25+% More In A Buyout