Baird Downgrades Excel Trust (EXL) to Neutral
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Excel Trust Enters Into Agreement to Be Acquired by Blackstone for $15.85 per Share
April 10, 2015 8:00 AM EDTSAN DIEGO, CA -- (Marketwired) -- 04/10/15 -- Excel Trust, Inc. (NYSE: EXL) today announced that it has entered into a definitive agreement with Blackstone Property Partners L.P., under which Blackstone will acquire all outstanding shares of common stock of Excel Trust for $15.85 per share in an all-cash transaction valued at approximately $2 billion.
The transaction has been unanimously approved by Excel Trust's Board of Directors and represents a premium of nearly 15% over the Company's closing stock price on April 9, 2015. In addition to the common stock dividend of $0.18 per share payable on April 15, 2015,... More
