Blackstone to buy Gramercy Property in $7.6 billion deal: Reuters

Blackstone Group LP (BX.N) said on Monday it would buy Gramercy Property Trust (GPT.N), which is an asset manager of commercial real estate, in a deal valued at $7.6 billion in cash.

The $27.50-per-share offer represents a premium of 15.4 percent to Gramercy Property’s close on Friday at $23.82.