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No. of Recommendations: 3

Blackstone Group's (NYSE:BX) Blackstone Property Partners announced Friday that it will buy Excel Trust (NYSE:EXL) for $2 billion in an all-cash deal.

Blackstone agreed to buy the real estate investment trust for $15.85 per share, a premium of 15% over its closing price Thursday. The deal is expected to close in the second half of the year......

Long EXL-B which is down quite a bit today.
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