RPT Realty rises as Kimco Realty to buy firm in $2 bln deal

Rithm Property Trust

28/08/2023 12:32

** Shares of real estate investment trust, RPT Realty
 RPT.N  rise 15.2% to $10.58 in premarket
    ** Kimco Realty  KIM.N  will acquire RPT Realty in an
all-stock transaction valued at about $2 billion, including the
assumption of debt and preferred stock
    ** RPT shareholders will receive 0.6049 of newly issued
Kimco shares for each RPT share they own
    ** Deal expected to be immediately accretive to funds from
operation 
    ** KIM shareholders and RPT shareholders will own 92% and 8%
of the combined co, respectively
    ** YTD, RPT down ~4.68% 

 (Reporting by Aishwarya Jain)
 ((Aishwarya.Jain@thomsonreuters.com))