INDT - INDUS Realty Trust to be acquired by Centerbridge Partners and GIC Real Estate
- Indus Realty Trust ( NASDAQ: INDT ) entered into a definitive merger agreement wherein affiliates of Centerbridge Partners and GIC Real Estate will acquire all of the outstanding shares of the company in an all-cash transaction valued at ~$868M.
- Under agreement terms, INDUS stockholders will receive $67/share in cash.
- The transaction represents a premium of 17% as of Nov.25, 2022 stock price.
- Also, as per merger terms INDUS will be allowed to declare and pay its regular Q1 and Q2 2023 cash dividends; furthermore, the company will suspend regular payment if dividends until the earlier of the closing or the termination of the merger agreement.
- Transaction is expected to close in summer of 2023.
For further details see:
INDUS Realty Trust to be acquired by Centerbridge Partners and GIC Real Estate