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Monmouth Real Estate Investment Corporation Announces Receipt of Amendment to Unsolicited Acquisition Proposal Monmouth Real Estate Investment Corporation Holmdel, UNITED STATES No Action Needs to be Taken by Monmouth Shareholders at This Time HOLMDEL, N.J., July 16, 2021 (GLOBE NEWSWIRE) Monmouth Real Estate Investment Corporation (NYSE: MNR, “Monmouth” or “the Company”) today announced that it received an amendment to the unsolicited acquisition proposal it previously received on July 8, 2021 from a certain large private investment firm. The amendment to the proposal reflects an increase of $0.18 per share in the consideration that would be paid for each share of Monmouth Common Stock, resulting in a net cash consideration of $18.88 per share, reflecting a stated purchase price of $19.51 per share reduced by the termination fee of approximately $62.2 million, or $0.63 per share, if Monmouth terminates the merger agreement it ....
No Action Needs to be Taken by Monmouth Shareholders at This Time HOLMDEL, N.J., July 16, 2021 (GLOBE NEWSWIRE) Monmouth Real Estate Investment Corporation (NYSE: MNR, “Monmouth” or “the Company”) today announced that it received an amendment to the unsolicited acquisition proposal it previously received on July 8, 2021 from a certain large private investment firm. The amendment to the proposal reflects an increase of $0.18 per share in the consideration that would be paid for each share of Monmouth Common Stock, resulting in a net cash consideration of $18.88 per share, reflecting a stated purchase price of $19.51 per share reduced by the termination fee of approximately $62.2 million, or $0.63 per share, if Monmouth terminates the merger agreement it previously entered into with Equity Commonwealth (“EQC”) in accordance with its terms to accept the amended proposal. The increase results from the investment firm’s decision that the purchase price would no long ....
Equity Commonwealth Purchases Monmouth Real Estate Equity Commonwealth and Monmouth Real Estate Investment Corporation have entered into a definitive merger agreement by which Equity Commonwealth will acquire Monmouth in an all-stock transaction, valued at approximately $3.4 billion, including the assumption of debt. The combined company is expected to have a pro forma equity market capitalization of approximately $5.5 billion. Monmouth’s portfolio is comprised of 120 properties totaling 24.5 million square feet. Equity Commonwealth and Monmouth shareholders are expected to own approximately 65% and 35%, respectively, of the pro forma company following the close of the transaction. “The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows while preserving EQC’s balance sheet capacity for future acquisitions,” said ....
By Reuters Staff 2 Min Read (Reuters) - Equity Commonwealth, a U.S. real estate investment trust, will acquire rival Monmouth Real Estate Investment Corp for $1.91 billion in stock, the companies said late Tuesday. Monmouth shareholders will receive 0.67 shares of Equity Commonwealth for each share they own, representing a premium of 6.3%, or about $19.40 per target company’s share based on Equity Commonwealth’s Monday close. “The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows while preserving EQC’s balance sheet capacity for future acquisitions,” Equity Commonwealth Chairman Sam Zell said in a statement. Monmouth’s portfolio comprises 120 properties totalling 24.5 million square feet across 31 states, the companies said in a statement. ....
Equity Commonwealth acquires Monmouth Real Estate for $3.4B njbiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from njbiz.com Daily Mail and Mail on Sunday newspapers.