Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Gazit America Forms Special Committee To Consider Acquisition Proposal

RELATED NEWS
Trade EQY now with 

Gazit America Inc. (GAA.TO: Quote) announced that its Board has formed a Special Committee to consider and make recommendations to the Board of Directors with respect to a non-binding preliminary transaction proposal received by Gazit America from Gazit-Globe Ltd. (GZT: Quote) and First Capital Realty Inc. (FCR.TO: Quote) with respect to the acquisition by Gazit-Globe of all of the common shares of Gazit America not already beneficially owned by Gazit-Globe for consideration which Gazit-Globe and First Capital have valued at $7.07 for each share of Gazit America, based on certain assumptions, payable in cash and common shares of First Capital.

As part of the arrangement, the Transaction Proposal contemplates that First Capital will acquire all of the shares of ProMed Properties (CA) Inc., which owns the medical office and retail properties of Gazit America, and ProMed Asset Management Inc.

The Transaction Proposal is subject to full due diligence and adjustment by Gazit-Globe and First Capital.

Click here to receive FREE breaking news email alerts for Equity One Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks showed a lack of direction over the course of the trading day on Friday after failing to sustain an initial upward move. Despite the choppy trading, the Dow once again managed to end the session at a new record closing high. The major averages turned in a mixed performance on the day. President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State. While the Conference Board released a report on Friday showing a continued increase by its index of leading U.S. economic indicators in the month of August, the pace of growth showed a significant slowdown compared to the previous month.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.