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LONDON—Quintain Estates & Development said Wednesday it would accept a GBP700-million offer from Lone Star Funds to take the developer private. The all-cash deal for 131 pence per share, equivalent to approximately US$1.1 billion, represents a 22% premium over Quintain’s share price at the close of trading on Tuesday. Dallas-based Lone Star is acquiring Quintain through its fourth real estate fund, which closed at $5.8 billion this past April.

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