Provider: Wright Reports
NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
Plazacorp Retail Properties Ltd Completes Acquisition Of Remaining KEYreit Units
Plazacorp Retail Properties Ltd announced that is has acquired the remaining 1,720,922 units (Units) of KEYreit not deposited under its previously announced offer dated April 10, 2013 (the Offer) to purchase all of the Units for, at the election of each unitholder of KEYreit, either CAD8.35 in cash or 1.7041 of a Plazacorp Share, subject, in each case, to pro ration. Plazacorp acquired the remaining Units pursuant to the Plazacorp acquisition right under KEYreit's amended and restated Declaration of Trust. Following completion of this subsequent acquisition transaction, Plazacorp now owns 15,009,292 Units, representing 100% of the issued and outstanding Units. Upon delivery of an acquisition notice, all outstanding Units were deemed to have been sold to Plazacorp, for the same consideration and on the same terms as the Units acquired by Plazacorp under the Offer. Accordingly, KEYreit unitholders who elected the cash alternative will receive CAD6.51, representing 78% of the total cash amount elected, plus 0.375 of a Plazacorp Share for each Unit tendered. KEYreit unitholders who elected the share alternative will receive 1.7041 of a Plazacorp Share, representing 100% of the total number of Plazacorp Shares elected, subject in each case to adjustment for fractional shares. Accordingly, Plazacorp will issue approximately 1,478,362 Plazacorp Shares in respect of the subsequent acquisition transaction.
Latest Developments for KEYreit
- Plazacorp Retail Properties Ltd Announces Completion Of Offer For KEYreit
- Huntingdon Capital Corp Announces Expiration Of Offer For KEYreit
- Plazacorp Retail Properties Ltd And KEYreit Reiterate Attractiveness Of Plazacorp's $8.35 Acquisition Proposal To KEYreit Unit Holders
- Huntingdon Capital Corp Reaffirms 100% Cash Offer At $8.00 Per KEYreit Unit
Latest Key Developments in Commercial
- Boston Properties Inc to Sell 45 pct interest in each of 601 Lexington Avenue, Atlantic Wharf Office Building and 100 Federal Street
- Brandywine Realty Trust lowers FY 2014 FFO guidance
- Washington Prime Group to acquire Glimcher Realty Trust for $4.3 bln
- SL Green Realty Corp and The Moinian Group sells downtown office tower
- Share this
- Digg this