Realty Income, VEREIT will close merger on Nov. 1
$Realty Income(O.US$ and $VEREIT Inc(VER.US$ expect to close its merger on November 1 of this year, the company says.
Shares of O are up slightly by 0.20% in after-hours trading.
In addition, the registration statement associated with the previously announced plan to spin off "substantially" all the office assets from Realty Income and VEREIT, filed under the newly created Orion Office REIT, is effective as of Oct. 22.
Realty Income declares Nov. 2 as the record date for the spin off, and Nov. 12 as the distribution date.
The spinoff will be accomplished via a pro rata dividend of one share of Orion common stock for every ten shares of Realty Income common stock outstanding as of the record date for the spinoff.
Realty Income shareholders will receive cash in lieu of fractional shares in the spinoff.
Previously, (April 29) Realty Income to acquire VEREIT, then spin off office properties in new REIT.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
