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Regency Centers to buy Equity One

Published 11/14/2016, 07:19 PM
Regency Centers to buy Equity One
REG
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EQY
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  • Equity One (NYSE:EQY) +14.2% AH after Regency Centers (NYSE:REG) agrees to acquire the company in a deal valued at ~$5B, creating the largest shopping center REIT by market cap.
  • Under the terms of the deal, each EQY share will be converted into 0.45 shares of newly issued REG shares; following the closing of the transaction, REG shareholders would own ~62% of the combined company's equity, and former EQY shareholders would own the rest.
  • The merger will create a national portfolio of 429 properties encompassing more than 57M sq. ft.

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