AIMCO (AIV) receives buyout offer.

Apartment Investment and Management Company (AIMCO or AIV) announced today that it has received a buyout offer from an undisclosed party.  Details of the offer - including price - were not disclosed, although AIMCO did characterize the proposal as "grossly inadequate."  AIMCO also said that it intends to proceed with the separation of the company into separate trading vehicles for income (Apartment Income REIT) and redevelopment (new AIMCO).

AIMCO is a national owner / operator of apartment properties with a current portfolio of 126 properties in 17 states and the District of Columbia.  The company is a member of the S&P 500 and has a current market capitalization of approximately $9.8 billion.