M&A
confidence high
sentiment positive
materiality 0.85
Kimco completes acquisition of Weingarten Realty; WRI shareholders get 1.408 KIM shares + $2.20 cash per share
KIMCO REALTY CORP
- Merger closed August 3, 2021; creates preeminent open-air grocery-anchored REIT.
- WRI shareholders receive 1.408 Kimco shares plus $2.20 cash per WRI share.
- Kimco issued approx 180M shares of common stock to former WRI shareholders.
- Merger-related costs estimated $50-60M ($0.09-$0.11 per share impact in Q3 2021).
- Stockholders approved merger: 369.7M for, 0.2M against at special meeting.