AvalonBay Communities Inc. and Equity Residential are nearing a deal that will see two of the biggest real estate investment trusts by value combine, people familiar with the matter said.
An announcement could come as soon as Thursday, the people said, asking not to be identified discussing confidential information.
AvalonBay has a market value of about $26 billion and Equity Residential’s is $24.8 billion.
No final decision has been made and talks could fall through or the timing could change, the people said.
Representatives for AvalonBay and Equity Residential didn’t immediately respond to requests for comment.
Bloomberg News
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