Kite Realty Group, Retail Properties Of America Merge In $7.5B Deal: What You Need To Know
Kite Realty Group Trust (NYSE: KRG ) and Retail Properties of America, Inc. (NYSE: RPAI ) have entered into an agreement under which RPAI would merge into a subsidiary of KRG, with KRG continuing as the surviving public company. A Sweet REIT Deal: The shopping center-focused real estate investment trusts will create a combined company with an equity market capitalization of approximately $4.6 billion and a total enterprise value of approximately $7.5 billion upon the transaction’s closing, assuming a KRG share price of $20.83, the closing price on July 16. Under the terms of the merger agreement, each RPAI common share will be converted into 0.6230 newly issued KRG common shares in a 100% stock-for-stock transaction. The companies said this represents a 13% premium … Full story available on Benzinga.com
Kite Realty Group, Retail Properties Of America Merge In $7.5B Deal: What You Need To Know
Kite Realty Group Trust (NYSE: KRG ) and Retail Properties of America, Inc. (NYSE: RPAI ) have entered into an agreement under which RPAI would merge into a subsidiary of KRG, with KRG continuing as the surviving public company. A Sweet REIT Deal: The shopping center-focused real estate investment trusts will create a combined company with an equity market capitalization of approximately $4.6 billion and a total enterprise value of approximately $7.5 billion upon the transaction’s closing, assuming a KRG share price of $20.83, the closing price on July 16. Under the terms of the merger agreement, each RPAI common share will be converted into 0.6230 newly issued KRG common shares in a 100% stock-for-stock transaction. The companies said this represents a 13% premium … Full story available on Benzinga.com