logo
Share SHARE
FONT-SIZE Plus   Neg

Gazit America Forms Special Committee To Consider Acquisition Proposal

Gazit America Inc. (GAA.TO) 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) and First Capital Realty Inc. (FCR.TO) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Almost 71 percent of Americans say they don't save enough for their retirement, while around 54 percent believe they will never pay off their debt fully, according to a new national survey. The latest survey, commissioned by Experian together with Get Rich Slowly and other top U.S. personal finance... The biotech space is not for the faint hearted, given the ebbs and flows in terms of the returns from investing in it. However, for one who perseveres and astutely devises strategies with full cognizance of key regulatory events coming up, the probability of drug candidates getting FDA's blessings and sympathy plays in the space, it provides a sea of opportunity and huge upside prospects. Alcobra Ltd.'s Investigational New Drug Applications for drug candidate MDX in Attention Deficit Hyperactivity Disorder and Fragile X Syndrome have been put on full clinical hold, following adverse neurological findings in a pre-clinical study.
comments powered by Disqus
Follow RTT