Cousins Properties (CUZ, $9.29) and Tier REIT (TIER, $27.26) to merge in $1.5 billion deal, to create $6 billion company
Cousins Properties and Tier REIT are planning to merge to form a company with a market cap of at least $6 billion. The combined entity will retain the Cousins name.
The real estate investment trusts will engage in a $1.5 billion all-stock deal, wherein Cousins will issue 2.98 new common shares in exchange for each share of Tier REIT stock. The synergy is expected to bring in $18.5 million of annual net savings.
If the deal gets finalized, Cousins shareholders will hold the majority stake – around 72% - in the combined company, and Tier shareholders will own the rest.
Cousins CEO Colin Connolly indicated that the deal would culminate into "an unmatched portfolio of trophy office properties in the premier submarkets of Atlanta, Austin, Charlotte, Dallas, Phoenix and Tampa" .The merger is expected to close in the third quarter.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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a real estate investment trust
Industry RealEstateInvestmentTrusts
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