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.

Case Status

Attorney Investigation

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

02/22/2023

INDUS Realty Trust (INDT) M&A Case

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