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July 1, 2014
11:31 EDTKRGKite Realty completes merger with Inland Diversified Real Estate
Kite Realty Group Trust announced the completion of its merger with Inland Diversified Real Estate Trust valued at approximately $2.1B. The transaction was approved by the shareholders of Kite Realty and the stockholders of Inland Diversified at their respective special meetings on June 24. The combined company will continue to trade under Kite Realtyís existing ticker symbol, KRG, on the New York Stock Exchange. As a result of the merger, each former share of Inland Diversified common stock has been converted into 1.707 newly issued Kite Realty common shares. The company said, "This transaction creates a $4B company and provides a number of significant financial and operational benefits. We expect to realize numerous financial benefits from the merger, including a substantial increase in cash flow and liquidity, a lower cost of capital, and a strengthened balance sheet. Operational opportunities include improved synergies from an expanded platform and the leveraging of Inland Diversifiedís high-quality portfolio with strong demographic profiles in dynamic new markets."
News For KRG From The Last 14 Days
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November 24, 2014
10:00 EDTKRGOn The Fly: Analyst Initiation Summary
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08:52 EDTKRGKite Realty Trust initiated with a Buy at Sandler O'Neill
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