INDIANAPOLIS—As reported last week in GlobeSt.com, KiteRealty Group Trust and Inland Diversified RealEstate Trust, Inc. had taken an important step in the firms' proposed merger,first announced in February. Kite and Inland agreed on an exchangeratio, with each share of Inland Diversified common stock convertedinto 1.707 shares of Kite Realty common stock upon the merger'sclosing. And yesterday, Kite held a special meeting at whichshareholders overwhelmingly approved the issuance of common sharesto stockholders of Inland Diversified Real Estate Trust, Inc.

The shareholders also approved an amendment to increase thetotal number of authorized common shares from 200 million to 450million. About 92% of the outstanding Kite common shares voted onthe proposal to issue common shares to Inland stockholders, withabout 99.9% of the votes cast in favor. And about 92% of theoutstanding Kite common shares voted on the amendment to increasethe total number common shares, with about 98.1% of the votes castin favor.

The companies' officials expect the merger to close on or afterJuly 1, 2014. As a result of the merger, each former share ofInland Diversified's common stock will be converted into the rightto receive 1.707 newly issued common shares of Kite Realty.Following completion of the merger, the common shares of KiteRealty will continue to trade under the existing ticker symbol"KRG" on the New York Stock Exchange.