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
Jeff Bezos, the CEO of Amazon, has overtaken Berkshire Hathaway's founder Warren Buffet to become the third-richest person in the world, according to the Bloomberg Billionaires Index. Bezos is now behind clothing retailer Zara's founder Amancio Ortega, who is now second, and Bill Gates, co-founder... The White House has announced new initiative to fight climate change, curb usage of fossil fuels and increase access to clean energy by pushing the use of electric vehicles. The Obama administration announced a series of actions from the Federal government, private sector, and states, as well as... Telecom giant Verizon Communications Inc. is reportedly very close to a deal to buy the core business of struggling internet company Yahoo Inc. Verizon has trumped out rival bidders and is close to acquire Yahoo's core internet business, reported Bloomberg News, citing people familiar with the matter. Verizon...
comments powered by Disqus
Follow RTT