Tricon Shareholders Approve Proposed Take Private by Blackstone Real Estate
Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) is pleased to announce that at its special meeting (“Meeting”) of shareholders of the Company (“Company Shareholders”) held earlier today, Company Shareholders voted to approve the previously announced statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”) pursuant to which Blackstone Real Estate Partners X, together with Blackstone Real Estate Income Trust, Inc. (and together with their respective affiliates, “Blackstone”) will acquire all of the outstanding common shares of Tricon (“Common Shares”) for US$11.25 per Common Share in cash (the “Transaction”).
- Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) is pleased to announce that at its special meeting (“Meeting”) of shareholders of the Company (“Company Shareholders”) held earlier today, Company Shareholders voted to approve the previously announced statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”) pursuant to which Blackstone Real Estate Partners X, together with Blackstone Real Estate Income Trust, Inc. (and together with their respective affiliates, “Blackstone”) will acquire all of the outstanding common shares of Tricon (“Common Shares”) for US$11.25 per Common Share in cash (the “Transaction”).
- Of the votes cast at the Meeting with respect to the Arrangement, a total of 208,391,666 Common Shares were voted in favour of the special resolution approving the Arrangement, representing approximately 99.3% of the votes cast by Company Shareholders.
- The Company’s full report of voting results will be filed under the Company’s issuer profile at www.sedarplus.ca and on Form 6-K at https://www.sec.gov .
- Tricon intends to seek a final order from the Ontario Superior Court of Justice (Commercial list) to approve the Arrangement on April 5, 2024 (the “Final Order”).