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INDT.US
id: 707

INDUS Realty Trust (INDT) M&A Case

On February 22, 2023, INDUS Realty Trust, Inc. (Nasdaq: INDT) announced it entered into a definitive merger agreement under which affiliates of Centerbridge Partners, L.P., a leading global private investment firm with deep experience in real estate, and GIC Real Estate, Inc., a global institutional investor, will acquire all of the outstanding shares of the Company in an all-cash transaction valued at approximately $868 million.
  • The transaction was unanimously approved by the participating members of INDUS’ Board of Directors.
  • Under the terms of the merger agreement, upon the closing of the transaction, INDUS stockholders will receive $67.00 per share in cash, subject to certain adjustments as set forth therein.
  • The transaction represents a premium of 17% to the Company’s unaffected stock price on November 25, 2022, the date of Centerbridge’s initial public announcement that it intended to make a takeover offer with GIC to acquire INDUS.
Investors of $INDT may have reasons to suspect that the pricing terms of the M&A transaction are unfair and that the Company BoD breached fiduciary duties to shareholders.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Malpractice
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
22 February 2023
Collecting participants…

Indus Realty Trust Inc

INDUS is a real estate business principally engaged in developing, acquiring, managing and leasing industrial/logistics properties. INDUS owns 42 industrial/logistics buildings totaling 6.1 million...

    Ticker
    INDT.US
    ISIN
    US45580R1032
    CIK
    1037390
    Sector
    Real Estate
    Industry
    Residential & Commercial REITs
    Country
    USA
    Address
    641 Lexington Avenue, New York, NY, United States, 10022