Centro has sealed the deal Heritage Property Investment Trust.
Under the terms of the merger agreement, holders of Heritage’s common stock will receive cash in an amount equal to $36.675 per share, which amount includes the regular dividend in respect of Heritage’s common stock that has not yet been paid with respect to Heritage’s third quarter of 2006.
In addition, in connection with the merger, limited partners of Bradley Operating Limited Partnership, one of Heritage’s operating partnerships, will continue to hold their OP units in Bradley or, if they have so elected, will receive cash in an amount equal to $36.675 per OP unit.
Wachovia Capital Markets, LLC acted as financial advisor to Heritage. JP Morgan Securities acted as financial advisor to Centro. Hogan & Hartson L.L.P. acted as legal advisor to Heritage. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Centro.
By Kathryn O’Meara
