Blackstone Inc. has agreed to purchase Retail Opportunity Investments Corp. for $4 billion in cash. The acquisition is priced at $17.50 per share, which is a 34% premium over the closing share price of Retail Opportunity on July 29.

This move by Blackstone demonstrates its ongoing investment in the retail sector and its desire to expand its portfolio of shopping-center properties. The acquisition is expected to strengthen Blackstone's position in the market by utilizing Retail Opportunity's assets and expertise in managing retail real estate.