ILPT to acquire Monmouth REIT for $21.00/share in all-cash transaction

Industrial Logistics Properties Trust

Common stockholders receive $21.00/share cash; preferred stockholders $25.00/share plus accrued dividends.
Transaction valued at ~$4.0B; expected to close in first half of 2022.
ILPT secured a $4.0B bridge loan from Citigroup and UBS; merger not subject to financing contingency.
Termination fee of $72M payable by Monmouth in certain circumstances; expense reimbursement up to $10M.
ILPT extended its existing credit agreement by six months to June 2022.

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