Brief: Government Properties Income Trust And Select Income REIT To Merge

RMR group

17/09/2018 11:48

Sept 17 (Reuters) - Government Properties Income Trust
 GOV.O :
    * PRESS RELEASE - GOVERNMENT PROPERTIES INCOME TRUST AND
SELECT
INCOME REIT ANNOUNCE AGREEMENT TO MERGE; GOVERNMENT PROPERTIES
INCOME TRUST TO CHANGE ITS NAME TO “OFFICE PROPERTIES INCOME
TRUST”
    * GOVERNMENT PROPERTIES INCOME TRUST - MERGER WILL BE A
STOCK FOR
STOCK EXCHANGE
    * GOVERNMENT PROPERTIES INCOME TRUST - SIR SHAREHOLDERS WILL
RECEIVE 1.04 SHARES OF GOV FOR EACH COMMON SHARE OF SIR
    * GOVERNMENT PROPERTIES INCOME TRUST - TO SELL ITS 27.8%
OWNERSHIP
IN SELECT INCOME REIT
    * GOVERNMENT PROPERTIES - SELECT INCOME REIT TO DISTRIBUTE
69.2%
OWNERSHIP IN INDUSTRIAL LOGISTICS PROPERTIES TRUST TO SELECT
INCOME REIT SHAREHOLDERS
    * GOVERNMENT PROPERTIES INCOME TRUST - FOLLOWING MERGER, GOV
AND
SIR SHAREHOLDERS WILL OWN APPROXIMATELY 52% AND 48% OF OPI,
RESPECTIVELY
    * GOVERNMENT PROPERTIES INCOME TRUST - AS A CONDITION OF
MERGER,
GOV WILL SELL ALL 24.9 MILLION OF COMMON SHARES IT OWNS IN SIR
    * GOVERNMENT PROPERTIES  - SIR TO DISTRIBUTE AS A SPECIAL
DIVIDEND
ALL 45 MILLION COMMON SHARES IT OWNS IN ILPT TO SIR SHAREHOLDERS
PRIOR TO CLOSING
    * GOVERNMENT PROPERTIES INCOME TRUST - SIR SHAREHOLDERS WILL
RECEIVE APPROXIMATELY 0.502 SHARES OF ILPT FOR EVERY ONE SHARE
OWNED OF SIR
    * GOVERNMENT PROPERTIES INCOME TRUST - OPI EXPECTS TO PAY AN
ANNUAL DIVIDEND BETWEEN $0.50 AND $0.60 PER SHARE
    * GOVERNMENT PROPERTIES INCOME TRUST - OPI EXPECTS TO SELL
PROPERTIES VALUED AT UP TO $750 MILLION
    * GOVERNMENT PROPERTIES INCOME TRUST - SURVIVING COMPANY IN
MERGER
WILL BE GOV AND IT WILL CHANGE ITS NAME TO OFFICE PROPERTIES
INCOME TRUST, OR OPI
    * GOVERNMENT PROPERTIES INCOME TRUST - OPI ALSO PLANS TO
SELL
ASSETS POST CLOSING TO FURTHER STRENGTHEN ITS CREDIT METRICS
    * GOVERNMENT PROPERTIES INCOME TRUST - DEAL ELIMINATES CROSS
OWNERSHIP AND CO-DEPENDENCE ON FINANCIAL RESULTS AMONG COMPANIES
    * GOVERNMENT PROPERTIES INCOME TRUST - OPI WILL BE LISTED ON
NASDAQ AND TICKER SYMBOL "OPI" HAS BEEN RESERVED FOR CO'S SHARES

Source text for Eikon:  ID:nBw7VgHwba 
Further company coverage:  GOV.O  SIR.O 

 ((Reuters.Briefs@thomsonreuters.com))