May 7, 2018 / 10:48 AM / 16 days ago

BRIEF-Gramercy Property Trust To Be Acquired By Blackstone For $27.50 Per Share In A $7.6 Bln Transaction

May 7 (Reuters) - Gramercy Property Trust:

* GRAMERCY PROPERTY TRUST ENTERS INTO DEFINITIVE AGREEMENT TO BE ACQUIRED BY BLACKSTONE FOR $27.50 PER SHARE IN A $7.6 BILLION TRANSACTION

* GRAMERCY PROPERTY TRUST - ALL-CASH TRANSACTION VALUED AT $7.6 BILLION.

* GRAMERCY PROPERTY TRUST - DEAL HAS BEEN UNANIMOUSLY APPROVED BY GRAMERCY’S BOARD OF TRUSTEES

* GRAMERCY PROPERTY TRUST - GRAMERCY SHAREHOLDERS WILL BE ENTITLED TO RECEIVE PREVIOUSLY ANNOUNCED Q2 DIVIDEND OF $0.375 PER SHARE PAYABLE ON JULY 16

* GRAMERCY PROPERTY TRUST - TRANSACTION IS NOT CONTINGENT ON RECEIPT OF FINANCING BY BLACKSTONE

* GRAMERCY PROPERTY - IF BLACKSTONE DEAL COMPLETED AFTER OCT 15, SHAREHOLDERS TO GET PER DIEM AMOUNT OF ABOUT $0.004/SHARE FOR EACH DAY UNTIL CLOSING DATE Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below