Campus Crest to be bought by Harrison Street for $1.9 billion

The deal, valued at $7.03 per share, includes $6.90 in cash and net proceeds from the company's sale of its evo Montreal joint venture estimated to be 13 cents per share, the company said.

Campus Crest said the final deal value would be determined only after Montreal sale, which is expected to occur before October 30.

If the sale does not occur prior to the closing of the merger with Harrison, Campus Crest said shareholders will receive about $6.23 per share in cash and one non-transferable contingent value right per share.

The deal, which has been approved by both the boards, is expected to close during the first quarter of 2016. ■