Re: Merger Agreement Between Gazit-Globe’s Subsidiary, Equity One, Inc. (“EQY”) and Regency Centers Corporation (“REG”)Merger Agreement • November 15th, 2016 • Gazit-Globe LTD • Real estate
Gazit-Globe Ltd. (“Gazit” or the “Company”) hereby reports that on November 15, 2016, its consolidated subsidiary EQY One, Inc. (NYSE: EQY) (in which the Company holds 34.3% (34.15% on a fully diluted basis)), has entered into a definitive merger agreement with Regency Centers Corporation (NYSE: REG), a Real Estate Investment Trust (REIT) (the “Merger Agreement”). EQY will be merged with and into REG, with REG continuing as the surviving public company. Under the terms of the Merger Agreement, each share of EQY common stock will be converted into 0.45 shares of newly issued shares of Regency common stock (the "Transaction"), which reflects a tax deferred premium for EQY’s shareholders of approximately 13.7% above EQY’s market value (as of today’s date).
