{"id":1004101521,"date":"2014-07-30T19:35:17","date_gmt":"2014-07-31T03:35:17","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=280788"},"modified":"2022-12-08T20:27:39","modified_gmt":"2022-12-09T04:27:39","slug":"amreit-declines-regencys-unsolicited-acquisition-proposal-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/amreit-declines-regencys-unsolicited-acquisition-proposal-2\/","title":{"rendered":"AmREIT Declines Regency\u2019s Unsolicited Acquisition Proposal"},"content":{"rendered":"

By Liviu Oltean, Associate Editor<\/em><\/p>\n

Regency Center Corp. announced three weeks ago that it offered to acquire AmREIT Inc. for $22 per share. The unsolicited acquisition proposal represented a 20 percent premium, based on the average closing price of AmREIT\u2019s common stock over the last 30 days, and also exceeds AmREIT\u2019s all-time-high stock price by more than $2 a share.<\/p>\n

\"\"<\/a>According to Regency\u2019s official statement, the offer represents a solution to AmREIT\u2019s difficulties in accessing capital due to its smaller size in contrast to other public REITs. AmREIT will also benefit by being able to grow same-property NOI and by accessing a stronger balance sheet that offers readily available capital for growth, Regency declared.<\/p>\n

\u201cWe believe that there is a strong strategic, financial and operational rationale for the combination of Regency and AmREIT. We are confident that this transaction is in the best interests of both companies\u2019 shareholders and have a great interest in moving forward toward the negotiation of final terms and documentation. Importantly, we are willing to offer either cash or stock consideration, or a combination of the two, such that AmREIT shareholders could receive immediate and certain value for their shares and\/or the opportunity to participate in the combined company\u2019s upside potential,\u201d said Hap Stein, Regency\u2019s chairman & CEO.<\/p>\n

On the 29th<\/sup> of July, AmREIT officially refused the acquisition proposal, announcing that its board of directors plans to seek out alternative strategies to improve stockholder value. \u00a0In order to assure a fair assessment of alternatives, the board decided to make the company subject to the Maryland Business Combination Act, which prohibits certain mergers between the company and potential stockholders who own 10 percent or more of the voting power of AmREIT\u2019s voting stock. With this measure, they ensure an orderly review of all the alternatives feasible for the company.<\/p>\n

\u201cGiven the value of our unique assets, robust development pipeline and promising future prospects, supported by our top-of-class platform, our board believes that now is the right time to conduct a thorough review to determine how best to continue to enhance stockholder value, and we are taking appropriate action to ensure a thorough evaluation,\u201d the company said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Regency Center Corporation announced three weeks ago that it offered to acquire AmREIT, Inc. for $22 per share. Their unsolicited acquisition proposal represented a 20% premium based on the average closing price of AmREIT’s common stock over the last 30 days, and also exceeds AmREIT’s all-time high stock price by more than $2 share.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21742],"tags":[687,39438,1815],"class_list":["post-1004101521","post","type-post","status-publish","format-standard","hentry","category-houston","category-latest","tag-features","tag-houston","tag-national"],"acf":[],"yoast_head":"\nAmREIT Declines Regency\u2019s Unsolicited Acquisition Proposal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/amreit-declines-regencys-unsolicited-acquisition-proposal-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AmREIT Declines Regency\u2019s Unsolicited Acquisition Proposal\" \/>\n<meta property=\"og:description\" content=\"Regency Center Corporation announced three weeks ago that it offered to acquire AmREIT, Inc. for $22 per share. 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