October 21, 2015 (Shareholders Foundation) - An investor who currently holds shares of Biomed Realty Trust Inc (NYSE:BMR), filed a lawsuit in effort to halt the proposed takeover of Biomed Realty Trust Inc (NYSE:BMR. by affiliates of Blackstone Real Estate Partners VIII for $23.75 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:BMR stockholders by agreeing to sell Biomed Realty Trust Inc. too cheaply via an unfair process to affiliates of Blackstone Real Estate Partners VIII.

On October 8, 2015, Biomed Realty Trust Inc (NYSE:BMR) announced that it has entered into an agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone will acquire all outstanding shares of common stock of Biomed Realty Trust Inc (NYSE:BMR) for $23.75 per share in an all-cash transaction valued at $8 billion.

However, the plaintiff claims that the proposed consideration NYSE:BMR shareholders will receive is grossly inadequate and undervalues Biomed Realty Trust Inc. Indeed, at least one analyst has set the high target price for NYSE:BMR shares at $26.00 per share. Furthermore, Biomed Realty Trust Inc reported that its annual Total Revenue rose from $637.31 million in 2013 to $674.61 million in 2014 and that its respective Net Income increased from $46.64 million to $193.78 million. Shares of Biomed Realty Trust Inc (NYSE:BMR) reached as high as $24.68 per share in January 2015. In addition, the plaintiff claims that the process is also unfair to NYSE:BMR stockholders.