Monmouth Real Estate, Monmouth Capital to combine

PHILADELPHIA, March 26 (Reuters) - Monmouth Real Estate Investment Corp. (MNRTA.O) said on Monday it would acquire Monmouth Capital Corp. MONM.O in a transaction valued at $90.2 million.

Monmouth Capital will merge with a subsidiary of Monmouth Real Estate. Each share of Monmouth Capital's common stock will receive 0.655 shares of Monmouth REIT's common stock.

Following the closing of the deal, Monmouth REIT said its stockholders will own about 84.5 percent of the company, with Monmouth Capital's stockholders owning the rest.