American Campus Communities Announces Proxy Advisory Firm ISS Recommends Stockholders Vote 'FOR' Proposed Acquisition By Blackstone Funds

Author: Benzinga Newsdesk | July 19, 2022 08:15am

American Campus Communities, Inc. (NYSE:ACC), the largest owner, manager and developer of high-quality student housing properties in the U.S., today announced that a leading independent proxy advisory firm, Institutional Shareholder Services Inc. ("ISS"), has recommended that stockholders vote "FOR" the previously announced all-cash acquisition of the company by Blackstone Core+ perpetual capital vehicles, primarily comprised of Blackstone Real Estate Income Trust, Inc. ("BREIT"), alongside Blackstone Property Partners L.P. ("BPP"), at the company's upcoming Special Meeting of Stockholders (the "Special Meeting") scheduled for August 4, 2022 at 10:00 a.m., Central Time.

As previously announced, the company and affiliates of BREIT and BPP have entered into a definitive merger agreement pursuant to which such affiliates have agreed to acquire the outstanding shares of common stock of the company for $65.47 per share. The proposed acquisition is expected to be completed on or about August 9, 2022, subject to approval by the company's stockholders and the satisfaction or waiver of other customary closing conditions.

Our Board of Directors recommends that you vote "FOR" the proposed merger. All stockholders of record as of the close of business on June 14, 2022 are entitled to vote at the Special Meeting.

The company's stockholders are reminded that their vote is extremely important, no matter how many shares they own. To follow the recommendations of ISS and our Board of Directors, stockholders should vote "FOR" the proposed merger today.

If you have any questions about the Special Meeting or need assistance voting your shares, please contact our proxy solicitor, MacKenzie Partners, Inc., by email at proxy@mackenziepartners.com or by phone at (800) 322-2885.

Posted In: ACC