Spirit Realty Capital, Inc. (SRC) Friday announced that its stockholders have approved the merger with Realty Income Corporation (O).
No approval of Realty Income shareholders is required in connection with the merger.
At the special meeting of Spirit stockholders, approximately 99.8% of the votes cast were voted in favor of the merger, which represented approximately 86.4% of the outstanding shares of Spirit common stock.
The merger is subject to customary closing conditions and is expected to close on January 23, 2024.
Under the terms of the merger agreement, at the closing of the merger, Spirit common shareholders will receive 0.762 newly-issued Realty Income common shares for each Spirit common share they own immediately prior to the effective time of the merger.
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