RTTNews | Apr 29, 2021 07:49AM EDT

07:49 Thursday, April 29, 2021 (RTTNews.com) - Realty Income Corporation (O) and VEREIT, Inc. (VER) have entered into a definitive merger deal by which Realty Income will acquire VEREIT in an all-stock deal. VEREIT shareholders will receive 0.705 shares of Realty Income stock for every share of VEREIT stock they own. Following this, the companies expect to effectuate a taxable spin-off of substantially all of the office properties of both companies into a self-managed, publicly traded REIT.

Realty Income and former VEREIT shareholders are expected to own approximately 70% and 30%, respectively, of both Realty Income and new REIT.

The deal is expected to be over 10% accretive to Realty Income's AFFO per share in year one.

Read the original article on RTTNews ( https://www.rttnews.com/3189743/realty-income-to-acquire-vereit.aspx)

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