Hallwood Realty Partners, L.P. Announces Completion of Merger
July 16 2004 - 3:43PM
PR Newswire (US)
Hallwood Realty Partners, L.P. Announces Completion of Merger
DALLAS, July 16 /PRNewswire-FirstCall/ -- Hallwood Realty Partners,
L.P. (AMEX:HRY) ("the Partnership") today announced the completion
of the merger of the Partnership with a wholly-owned subsidiary of
HRPT Properties Trust. The merger was approved by the Partnership's
unitholders at the Special Meeting of Unitholders held July 15,
2004. As a result of the merger, the Partnership will no longer be
a publicly traded limited partnership. At the special meeting,
holders of approximately 53.74% of the outstanding units voted to
approve the merger. In the merger, unitholders will receive an
amount per unit in cash equal to $136.70 per unit of limited
partnership interest. Of this amount $0.31 will be withheld subject
to the award of attorneys' fees to the class counsel in the I.G.
Holdings litigation. Unitholders will receive a letter of
transmittal with instructions from the paying agent informing them
how to exchange their units for the merger consideration. It is
anticipated that the letters of transmittal will be sent to
unitholders in the next few days. DATASOURCE: Hallwood Realty
Partners, L.P. CONTACT: investors, Bob Marese of MacKenzie
Partners, Inc., +1-212-929-5405, or media, Roy Winnick of Kekst and
Company, +1-212-521-4842, both for Hallwood Realty Partners, L.P.
Web site: http://www.hallwood.com/hrp
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