Parkway to buy Thomas Properties for about $1 bln in stock, debt

Sept 5 Thu Sep 5, 2013 7:47am EDT

Sept 5 (Reuters) - Parkway Properties Inc said it will buy Thomas Properties Group Inc for about $300 million in stock and the assumption of about $750 million of debt.

Parkway will pay Thomas Properties' shareholders 0.3822 shares for each share, valuing the deal at $6.26 per share, a premium of 10 percent to its closing on Wednesday.

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