Earlier Tuesday, Financial Times correspondent Ed Hammond tweeted, "Scoop: NorthStar in advanced talks to buy Griffin-American for circa $4bn. Story to come."
About an hour after the tweet, Hammond published an article on Financial Times that provided more detail on the rumored deal.
According to the article, people familiar with the matter said the companies are in advanced negotiations and could potentially agree on terms sometime this week. However, one of people cautioned that exact details have not been reached and it is still possible that the deal may fall through.
Additionally, Hammond noted the exclusivity period for the talks expires on Friday.
Shares of NorthStar Realty Finance NRF initially jumped about three percent, or $0.52, on the tweet, before returning to levels around Tuesday's opening price.
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