Regency Centers shareholders approve merger with Equity One
Stockholders of Jacksonville-based Regency Centers have approved the merger of Equity One at a special meeting.
Stockholders approved all proposals put forward at the special meeting.
As previously announced, on November 14, 2016, Regency and Equity One entered into a definitive merger agreement (the “Merger Agreement”), pursuant to which Equity One would merge with and into Regency, with Regency continuing as the surviving public company of the merger.
Under the terms of the Merger Agreement, each share of Equity One common stock will be converted into 0.45 of a newly issued share of Regency common stock.
On a pro forma basis, following the closing of the transaction, Regency stockholders are expected to own approximately 62 percent of the combined company’s common stock, and former Equity One stockholders are expected to own approximately 38 percent.
Subject to the satisfaction or waiver of certain other customary closing conditions, Regency expects the merger to close on March 1, 2017.
J.P. Morgan Securities is acting as financial advisor, and Wachtell, Lipton, Rosen & Katz is acting as legal advisor, to Regency in connection with the merger.
Source: Company Press Release