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