Last Friday was the deadline, chosen by Lexington's board oftrustees, to determine which of the shareholders were entitled tovote at the meeting, according to a company release. Newkirk'strustees as of Oct. 13 are eligible to vote.

|

At the end of July, as reported by GlobeSt.com,Lexingtonand Newkirk signed a Merger Agreement. According to Newkirk'sProposed Merger-Investor Presentation, released just days after theannouncement of the merger, the enterprise value of the merger isestimated at $4.6 billion and will include a total of 350properties totaling 57 million sf. The properties are located in 44states, although the largest concentration is on the East and Westcoasts.

|

The combined companies will be named Lexington Realty Trust andLexington's common annualized dividend is expected to increase by$1.50 per share once the merger is complete.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.