Moody’s To Close Reis Acquisition Today
Moody’s plans to incorporate Reis’ data archive of some 18 million properties into its analytics offering.
NEW YORK CITY–Moody’s Corp., is set to close on its $278 million acquisition of Reis on Monday now that it has completed the tender offer to purchase Reis shares at a purchase price of $23.00 per unit.
As a result of the tender offer, Moody’s now indirectly owns a sufficient number of shares in Reis to complete a short-form merger under applicable Maryland law without stockholder approval.
Once the merger closes, Reis will no longer be traded on the NASDAQ Stock Market.
Moody’s plans to incorporate Reis’ data archive of some 18 million properties into its analytics offering.
“Their data on CRE supply and Moody’s Analytics’ insights on the demand for commercial properties will provide market participants with a powerful 360-degree view of the economics of CRE lending and investment,” said Mark Almeida, President of Moody’s Analytics, in a prepared statement when the deal was first announced.