INDUS Realty Trust Receives Unsolicited, Non-Binding Acquisition Proposal
November 28 2022 - 7:30AM
Business Wire
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the
“Company”), a U.S. based industrial/logistics REIT, announced it
received on November 27, 2022 an unsolicited, non-binding proposal
from Centerbridge Partners, L.P.—which currently owns approximately
14.8% of the Company’s common stock—and GIC Real Estate, to acquire
100% of the outstanding shares of the Company’s common stock that
Centerbridge does not already own for cash consideration of $65.00
per share.
Consistent with its fiduciary duties and in consultation with
its financial and legal advisors, the Company’s Board of Directors
will carefully review the proposal to determine the best path
forward for the Company that maximizes value for all of the
Company’s shareholders. The Board of Directors remains confident in
the Company’s performance, strategy and growth prospects.
Shareholders do not need to take any action at this time.
Morgan Stanley & Co. LLC is serving as financial advisor to
INDUS and Latham & Watkins LLP is serving as legal counsel.
About INDUS
INDUS is a real estate business principally engaged in
developing, acquiring, managing, and leasing industrial/logistics
properties. INDUS owns 42 industrial/logistics buildings
aggregating approximately 6.1 million square feet in Connecticut,
Pennsylvania, North Carolina, South Carolina, and Florida.
Forward-Looking Statements
This Press Release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements include INDUS’ beliefs
and expectations regarding future events or conditions including,
without limitation, statements about the proposal and the Company’s
strategic alternatives. Although INDUS believes that its plans,
intentions and expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
plans, intentions or expectations will be achieved. The projected
information disclosed herein is based on assumptions and estimates
that, while considered reasonable by INDUS as of the date hereof,
are inherently subject to significant business, economic,
competitive and regulatory uncertainties and contingencies, many of
which are beyond the control of INDUS, and which could cause actual
results and events to differ materially from those expressed or
implied in the forward-looking statements. Other important factors
that could affect the outcome of the events set forth in these
statements are described in INDUS’ Securities and Exchange
Commission ("SEC") filings, including the "Business," "Risk
Factors" and "Forward-Looking Statements" sections in INDUS’ Annual
Report on Form 10-K for the year ended December 31, 2021, filed
with the SEC on March 11, 2022, as updated by other filings with
the SEC. INDUS disclaims any obligation to update any
forward-looking statements as a result of developments occurring
after the date of this press release except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221128005219/en/
Investors Ashley Pizzo Vice President, Capital Markets
& Investor Relations (212) 218-7914 apizzo@indusrt.com
Media Tom Johnson / Jeremy Jacobs H/Advisors Abernathy
tom.johnson@h-advisors.global / jeremy.jacobs@h-advisors.global
212.371.5999 / 202.774.5600
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