Tuesday, June 26, 2007
Source: rttnews.com
The Omaha, Nebraska - based real estate investment hope America First Apartment Investors, Inc. (APRO). It revealed on Monday that it signed a definitive contract with Sentinel Omaha LLC, an associate of privately held Sentinel Real Estate Corp. to be acquired for $25.30 per share or approximately $532 million in cash. The total consideration has outstanding debt and excludes transaction charges. The company expects to close up the transaction in the late third quarter of 2007 on completion of customary closing conditions and shareholders endorsement.
The company said the total deliberation of the business represents a premium of 24.9% over the last trading day on April 2, before the formal statement. America First Apartment Investors said it would reimburse its usual quarterly dividend of $0.27 per share on July 31, 2007 to shareholders of record June 29, 2007. More the company would pay a prorated dividend for the time between the end of June and the closing of the union transaction.
The company said its Board of Directors accepted the deal and suggested its shareholders to vote in favor of the transaction. Sentinel said it owns properties in all but two of the 21 markets in which America primary operates. David Weiner, Vice Chairman of Sentinel remaindered that the integration of America First's about 7000 units with around 50,000 units of Sentinel would answer in considerable synergy. APRO is at present trading at $25.06, up $2.52 or 11.18% on a volume of 121K shares.
The Omaha, Nebraska - based real estate investment hope America First Apartment Investors, Inc. (APRO). It revealed on Monday that it signed a definitive contract with Sentinel Omaha LLC, an associate of privately held Sentinel Real Estate Corp. to be acquired for $25.30 per share or approximately $532 million in cash. The total consideration has outstanding debt and excludes transaction charges. The company expects to close up the transaction in the late third quarter of 2007 on completion of customary closing conditions and shareholders endorsement.
The company said the total deliberation of the business represents a premium of 24.9% over the last trading day on April 2, before the formal statement. America First Apartment Investors said it would reimburse its usual quarterly dividend of $0.27 per share on July 31, 2007 to shareholders of record June 29, 2007. More the company would pay a prorated dividend for the time between the end of June and the closing of the union transaction.
The company said its Board of Directors accepted the deal and suggested its shareholders to vote in favor of the transaction. Sentinel said it owns properties in all but two of the 21 markets in which America primary operates. David Weiner, Vice Chairman of Sentinel remaindered that the integration of America First's about 7000 units with around 50,000 units of Sentinel would answer in considerable synergy. APRO is at present trading at $25.06, up $2.52 or 11.18% on a volume of 121K shares.
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@ 11:51 PM
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