Retail Properties of America Inc - Ordinary Shares - Class A

NYSE:RPAI  
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Exchange Changes, Other Pre-Announcement, Mergers / Acquisitions

Kite Realty Group Trust And Retail Properties Of America, Inc. Announce $7.5 Billion Strategic Merger

Published: 07/19/2021 12:46 GMT
Retail Properties of America Inc - Ordinary Shares - Class A (RPAI) - Kite Realty Group Trust and Retail Properties of America, Inc. Announce $7.5 Billion Strategic Merger.
Kite Realty Group Trust - Deal Expected to Be Immediately Accretive to Earnings per Share.
Kite Realty Group Trust - Combined Company is Expected to Have an Equity Market Capitalization of Approximately $4.6 Bil.
Kite Realty Group Trust - Each Rpai Common Share Will Be Converted Into 0.6230 Newly Issued Krg Common Shares in a 100% Stock-for-stock Transaction.
Kite Realty Group Trust - Krg Shareholders Are Expected to Own Approximately 40% of Combined Company's Equity.
Kite Realty Group Trust - Krg Intends to Maintain Its Current Dividend Policy Post-closing.
Kite Realty Group Trust - Company Will Retain Kite Realty Group Name and Trademarks and Will Continue to Trade Under Nyse Symbol Krg.
Kite Realty Group Trust - Upon Completion of Merger, Company's Headquarters Will Remain in Indianapolis, Indiana.
Kite Realty Group Trust - John Kite Will Continue to Serve As Chairman of Board of Trustees of Combined Company.
Kite Realty Group Trust - William Bindley Will Continue to Serve As Lead Independent Trustee.
Kite Realty Group Trust - Anticipates Assuming All Rpai Debt.
Kite Realty - Obtained Financing Commitment to Provide $1.1 Billion Term Loan Bridge Facility If Some Debt Consents Cannot Be Obtained Before Deal Closing.