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News Breaks | | | | December 27, 2012 | | 17:58 EDT |  | NLP | Chairman Nichols, CEO Lavin to acquire public interest in NTS for $7.50/unit
NTS Realty Holdings Limited Partnership announced that it has entered into a definitive merger agreement with entities created and controlled by J.D. Nichols, the founder and Chairman of NTS, and Brian F. Lavin, the President and CEO of NTS. Upon consummation of the merger, all of the outstanding partnership units of NTS not owned by Nichols and Lavin and their affiliates would convert into $7.50 per unit in cash. The purchasers have obtained a debt commitment letter from an unaffiliated financing source on commercially standard terms. The merger and related transactions are expected to be completed in 1H13. | |
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