Whitestone REIT Shareholders Approve $1.7B Ares Buyout at $19/Share
WSR sits 66% above its 52-week low of $11.431.
Summary
Whitestone REIT shareholders voted to approve the all-cash acquisition by Ares Real Estate funds at $19.00 per share, clearing the final major hurdle for the $1.7 billion deal. The vote follows the definitive merger agreement announced in April and the proxy filing in May, with the transaction now expected to close on or about July 14, 2026. The approval comes despite recent shareholder lawsuits challenging merger disclosures, which were supplemented in early July. With the stock trading near its 52-week high of $19.10 and the deal price at $19.00, the spread is minimal, indicating high market confidence in closing. The acquisition will take Whitestone private, ending its life as a public REIT.
At the time of this announcement, WSR was trading at $18.99 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $11.43 to $19.10. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.