Brookfield to acquire Verde Realty
Verde Realty is to be acquired by Brookfield.
Merger and acquisition consultants can support the acquisition by merger of Verde Realty by Brookfield Asset Management.
The deal will have a total equity transaction value of as much as $366 million (£233.37 million) and Verde's shareholders will be given $12.85 per share.
It will involve a fund sponsored by Brookfield merging with Verde, which will be the surviving entity of the merger.
This transaction will be subject to the approval of shareholders and other customary closing conditions and is forecast to be concluded during the final three months of 2012.
Ronald Blankenship, chairman and chief executive officer of Verde, said: "This merger transaction with Brookfield ensures that Verde is well-positioned to benefit from renewed demand for industrial space which will increase as the economy continues to show signs of improvement."
At present, Verde's operating portfolio is primarily composed of industrial distribution facilities in California, Maryland, suburban Chicago, the south-western US, northern Mexico and Utah.
Posted by Ken Hayes
Source: Joint press release, July 26th