"The $48-a-share price provides a 39% premium to today's closing price," says Matt Dominski, CEO of Urban. RNA CEO Gerald Egan says the acquisition will "transform RNA into a fully integrated, self-managed company" that will now carry out operations that it previously outsourced to third parties.
RNA will become the third largest regional shopping mall company in the nation, with $7 billion in assets. It will own and manage such trophy properties as Chicago's Water Tower Place and Copley Place in Boston.
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