Associated Estates to sell itself as investor piles pressure

April 22, 2015 1:33 PM

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(Reuters) - Associated Estates Realty Corp (AEC.N) agreed to be bought by Canada's Brookfield Asset Management Inc (BAMa.TO) for about $1.66 billion, months after activist investor Jonathan Litt asked for a sale of the U.S. real estate investment trust.

Litt said on Wednesday this deal was an "outstanding outcome for all shareholders."

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