(Reuters) — Private equity firm Colony Capital Inc (CLNY.N) is in talks to buy commercial real estate manager NorthStar Asset Management Group Inc (NSAM.N), the companies said.
Colony Capital is working with NorthStar Realty Finance Corp (NRF.N) for a “tri-party all-stock” proposal, the companies said in joint statement on Friday.
Bloomberg reported the deal talks earlier in the day.
NorthStar Asset Management, spun off from NorthStar Realty Finance in 2014, had a market value of about $2.25 billion as of Friday close, according to Thomson Reuters data.
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