Realty Income Corp.

NYSE:O   10:53:30 AM EDT
+0.38 (+0.58%)
Officer Changes, Earnings Announcements, Mergers / Acquisitions

Realty Income To Merge With Vereit In All-Stock Transaction

Published: 04/29/2021 11:36 GMT
Realty Income Corp. (O) - Press Release - Realty Income to Merge With Vereit® in All-stock Transaction.
Realty Income Corp - Deal for Enterprise Value of Approximately $50 Billion.
Realty Income Corp - All-stock Transaction Expected to Generate 10%+ Accretion to Annualized AFFO per Share.
Realty Income Corp - Expect to Spin-off Assets in Dedicated Portfolio of Office Properties.
Realty Income - Under Deal Terms, Vereit Shareholders Will Receive 0.705 Shares of Realty Income Stock for Every Share of Vereit Stock They Own.
Realty Income - Expect to Effectuate a Taxable Spin-off of Substantially All of Office Properties of Both Cos Into a Publicly Traded Reit ("spinco").
Realty Income Corp - Realty Income Will Continue to Be Led by President and Chief Executive Officer Sumit Roy.
Realty Income Corp - Upon Closing, Two Vereit Directors Will Be Appointed to Realty Income Board.
Realty Income - on Run-rate Basis, to Achieve Estimated Annualized Corporate Cost Synergies of $45 - $55 Million Inclusive of Stock-based Compensation.
Realty Income Corp - Following Merger and Spin-off, Realty Income Will Continue As Surviving Public Entity.
Realty Income - Will Acquire Vereit in an All-stock Transaction, Creating a Combined Company With an Enterprise Value of Approximately $50 Billion.
Realty Income Corp - Co, Vereit Shareholders Expected to Own About 70% and 30%, Respectively, of Both Realty Income and Spinco .
Revenue is expected to be $436.59 Million
Adjusted EPS is expected to be $0.37

Next Quarter Revenue Guidance is expected to be $450.64 Million
Next Quarter EPS Guidance is expected to be $0.37

More details on our Analysts Page.