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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Grommit who wrote (55939)	12/15/2015 9:25:58 AM
From: Grommit	Read Replies (2) \| Respond to of 78669

IRC. What a rip-off. The price should be at least 25% higher. My #2 largest holding -- bought in 2012 and on the dip last summer. IRC ########################### Inland Real Estate Corporation (IRC) today announced that it has entered into a definitive agreement (the “Merger Agreement”) to be acquired by real estate funds managed by DRA Advisors LLC (“DRA”), in a transaction valued at approximately $2.3 billion, including the assumption of existing debt. Under the terms of the Merger Agreement, funds managed by DRA will acquire all issued and outstanding common stock of IRC for $10.60 per share in cash.... within 15 days following the closing of the Merger, the post-Merger company will redeem all of the issued and outstanding shares of Series A Preferred Stock and Series B Preferred Stock Completion of the Merger, which is expected to occur in the first half of 2016. The cash merger consideration of $10.60 per share represents an approximate 6.6% premium over the Company’s closing stock price on December 14, 2015, the last trading day prior to the public announcement of the Merger Agreement, and an approximate 11.5% and 15.9% premium over the volume weighted average closing prices of IRC common stock over the 30-day and 60-day periods ended December 14, 2015.