Monmouth Real Estate rises on sweetened offer from Starwood Capital Group

Equity Commonwealth

21/07/2021 13:41

** Shares of REIT  MNR.N  rise 2.1% premarket, set to open
at an over one-month high of $19.76
    ** U.S. investment firm Starwood Capital Group sweetens
offer for MNR to $19.51/shr from $18.70/shr  urn:newsml:reuters.com:*:nL4N2OX2KD
    ** Deal represents a 0.8% premium to MNR's last close; stock
trading above offer price premarket
    ** MNR set to rise for a fifth straight session and on pace
for its best day in 2-1/2 months
    ** Proposal implies a net consideration of $18.88 per share
to Monmouth shareholders after payment of a $62.2 mln, or $0.63
per share, termination fee owed to Equity Commonwealth  EQC.N 
    ** EQC made a $1.91 bln all-stock bid for MNR in May, which
implied a value of $19.40/shr  urn:newsml:reuters.com:*:nL4N2MS0OO 
    ** EQC shares slip 0.8% premarket

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))