Biomed Realty Trust Exploring Sale

Biomed Realty Trust (BMR) is trading more than 9% higher in pre-market in reaction to a report from Bloomberg that the company is exploring a sale, and has retained Morgan Stanley as its adviser.

Bloomberg writes that Blackstone Group (BX) is interested in buying the real-estate investment trust, with a market value of approximately $3.9 billion. Sources cited by Bloomberg claim the talks are ongoing, and there is no guarantee a deal will get done.

Shares last traded at $21.00 with a 52-week range of $17.94 to $25.11.