GIC, a global institutional investor in partnership with Oak Street, a Division of Blue Owl, one of the largest net lease investors, are to acquire STORE Capital Corporation, an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, in an all-cash transaction valued at approximately $14 billion.
Under the terms of the definitive merger agreement, STORE Capital stockholders will receive $32.25 per share in cash, which represents a premium of 20.4% to STORE Capital’s closing stock price as of 14 September, 2022 and a premium of 17.8% to the 90-day volume weighted average stock price through that date.
The definitive merger agreement includes a 30-day “go-shop” period that will expire on 15 October, 2022, which permits STORE Capital and its representatives to actively solicit and consider alternative acquisition proposals.
Read more: Private Equity
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.