Tricon's stock rallies 28% on $3.5 billion buyout deal by Blackstone

Tricon Residential Inc.’s stock jumped 28% on Friday after Blackstone Inc. said it would buy the Canadian real-estate-investment company and take it private for $3.5 billion. Tricon Residential Inc.’s NYSE-listed stock TCN, +28.04% TCN, +27.64% was up by $2.46, to $11.08 a share, on Friday morning. Blackstone BX, -0.02% said its Blackstone Real Estate Partners X real-estate fund and Blackstone Real Estate Income Trust Inc. will buy all outstanding common shares of Tricon for $11.25 (equivalent to C$15.17 ...