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Monmouth Real Estate Investment Stock Surges After $4B Buyout Deal, Including Debt

by marketwatch.com posted 3weeks ago 3 views
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 a market capitalization of about $2.06 billion. The deal is expected to close in the first half of 2022.

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