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Stock Market & Financial Investment News

News Breaks
February 5, 2013
04:53 EDTEXLExcel Trust acquires Tracy Pavillion for $32M
Excel Trust acquired Tracy Pavilion, a 374,766 square foot shopping center, for approximately $32M on January 24. The company owns 162,353 square feet as Home Depot and WinCo are both tenant owned. Major tenants include Home Depot, WinCo, Marshalls, Ross, PetSmart, Staples and Ulta. In a five mile radius average household income is estimated to be $95,558.
News For EXL From The Last 14 Days
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April 14, 2015
10:01 EDTEXLOn The Fly: Analyst Downgrade Summary
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06:52 EDTEXLExcel Trust downgraded to Market Perform from Outperform at Raymond James
Excel Trust (EXL) is being acquired by Blackstone (BX) for $15.85 per share.
April 13, 2015
10:00 EDTEXLOn The Fly: Analyst Downgrade Summary
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07:10 EDTEXLExcel Trust downgraded to Neutral from Outperform at Baird
Excel Trust (EXL) is being acquired by Blackstone (BX) for $15.85 per share.
06:36 EDTEXLExcel Trust downgraded to Hold from Buy at Cantor
Cantor Fitzgerald downgraded Excel Trust to Hold after Blackstone agreed to acquire all the company's outstanding common shares. It raised its price target for the stock to $15.85 from $15.
April 10, 2015
16:14 EDTEXLOn The Fly: Closing Wrap
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12:46 EDTEXLOn The Fly: Midday Wrap
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08:03 EDTEXLExcel Trust to be acquired by Blackstone for $15.85 per share, or about $2B
Excel Trust (EXL) announced that it has entered into a definitive agreement with Blackstone Property Partners, under which Blackstone (BX) will acquire all outstanding shares of common stock of Excel Trust for $15.85 per share in an all-cash transaction valued at approximately $2B. The transaction has been unanimously approved by Excel Trust's board and represents a premium of nearly 15% over the company's closing stock price on April 9. In addition to the common stock dividend of 18c per share payable on April 15, Excel Trust intends to pay an additional common stock dividend in July, but, under the terms of the agreement, not for any quarter thereafter. Completion of the transaction, which is currently expected to occur in the second half of 2015. The transaction is not contingent on receipt of financing by Blackstone. In connection with the closing of the transaction, the parties intend that Excel Trust L.P.'s $75M of 4.40% Senior Series A Notes due 2020 and its $25M of 5.19% Senior Series B Notes due 2023 will be repaid. Excel Trust L.P.'s $250M of 4.625% Senior Notes due 2024 are intended to remain outstanding following the closing.
08:00 EDTEXLExcel Trust to be acquired by Blackstone for $15.85 per share, or about $2B
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