Commercial real-estate fund Gramercy Property Trust said Monday that it reached a deal to sell itself to Blackstone Group LP for about $4.42 billion in cash. At $27.50 a share, the offer represents a 15% premium to Gramercy’s Friday closing price. Shares in Gramercy jumped to match the offer price during morning trading. Gramercy owns industrial,...

Source: Wall Street Journal May 07, 2018 14:06 UTC