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Realty Income Corp to buy VEREIT for USD 11 billion

Friday, 30 Apr 2021
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Realty Income Corp will buy commercial property landlord VEREIT for around USD 11 billion and spin off office properties of both companies into a publicly traded REIT. 
 
VEREIT shareholders will receive 0.705 shares of Realty Income stock and will own 30 percent of the combined company, while Realty shareholders will own 70 percent. 
 
Realty Income expects the deal to close during Q4/2021 to result in over 10 percent accretion to its adjusted funds from operations per share in the first year. 
 
Moelis & Company and Wells Fargo Securities are acting as financial advisers to Realty Income, while J P Morgan Securities is serving as financial adviser to VEREIT.

 

 
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