Veris Residential, Inc. (VRE), a real estate investment trust, said on Monday that it has inked a merger deal to be acquired by an investor consortium led by Affinius Capital in partnership with Vista Hill Partners for $19 per share in cash, or $3.4 billion.
The transaction price reflects a 23.2% premium to Veris' unaffected closing share price on February 4, and a 27.5% premium to the company's 30-day volume-weighted average price for the period ended February 4.
Tammy K. Jones, Chair of Veris' Board, said: "After a comprehensive review process conducted with independent financial and legal advisors, the Board unanimously determined the all-cash transaction delivers compelling value and certainty to shareholders with an immediate cash premium."
The consortium will finance the acquisition by a combination of equity investments and debt, including a $2.08 billion committed loan facility. The transaction is expected to be closed in the second quarter of 2026.
VRE was up by 12.94% at $18.94 in the pre-market trade on the New York Stock Exchange.
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