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Posted on: Nov. 5, 2021, 9:31 a.m.
Shares of Monmouth Real Estate Investment Corp. shot up 10.3% in premarket trading Friday, after the New Jersey-based real estate investment trust specializing in single-tenant industrial properties announced an agreement to be bought out in a cash deal valued at $4.0 billion, including debt, by Industrial Logistics Properties Trust (ILPT). Under terms of the deal, Monmouth shareholders will receive $21.00 in cash for each Monmouth share they own, an 11.3% premium to Thursday's stock closing price of $18.86, and representing … Full investment news article