LONDON (Thomson Financial) - Mission West Properties Inc, a real estate investment trust which buys and manages property in the San Francisco area, said it is in talks with an leading real estate private equity fund for the acquisition of all of Mission West's outstanding common stock at 13.55 usd per share in cash.
The holders of limited partnership units in Mission West's operating partnership will receive the equivalent of 13.55 usd per unit in cash or remain in a surviving operating partnership as part of the overall deal, which would be valued at approximately 1.8 bln usd.
Pending completion of the acquisition, which is still dependent on a successful conclusion to the negotiations, financing and regulatory conditions, Mission West expects to continue to pay regular quarterly distributions of 0.16 usd per share in addition to the merger consideration paid per outstanding share of common stock.
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