INDUS Files Preliminary Proxy Statement
INDUS Realty Trust (NASDAQ: INDT) announced the filing of its preliminary proxy statement regarding a definitive merger agreement with Centerbridge Partners and GIC, valuing the transaction at about $868 million. The merger will allow all outstanding shares of the company to be acquired in an all-cash deal. Centerbridge has also secured strategic investment from Abu Dhabi Investment Authority post-closing. The deal is expected to close in the summer of 2023, pending necessary approvals. INDUS aims to provide significant value to stockholders through this merger, which reflects the quality of its long-established industrial portfolio.
- The merger agreement values INDUS Realty Trust at approximately $868 million.
- The transaction is expected to deliver immediate and significant value to stockholders.
- Strategic investment from ADIA alongside Centerbridge enhances the deal's credibility.
- The deal is subject to regulatory approvals and stockholder consent, introducing uncertainty.
The preliminary proxy statement contains important information including the background of, and reasons for, the proposed transaction.
Commenting on the announced acquisition,
The transaction is expected to close in the summer of 2023 and is subject to customary closing conditions including approval by a majority of the shares of INDUS common stock outstanding and certain regulatory approvals as set forth in the merger agreement.
About INDUS
INDUS is a real estate business principally engaged in developing, acquiring, managing, and leasing industrial/logistics properties. INDUS owns 42 industrial/logistics buildings aggregating approximately 6.1 million square feet in
About Centerbridge
About GIC
GIC is a leading global investment firm established in 1981 to secure
About ADIA
Established in 1976, the
Additional Information and Where to Find It
In connection with the proposed transaction, on
Participants in the Solicitation
The Company and its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders with respect to the proposed transaction. Information about the Company’s directors and executive officers and their ownership of the Company’s securities is set forth in the Company’s proxy statement on Schedule 14A for its 2022 annual meeting of stockholders, filed with the
Additional information regarding the identity of participants in the solicitation of proxies, and a description of their direct or indirect interests in the proposed transaction, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the
Cautionary Statement Regarding Forward Looking Statements
Some of the statements contained in this release constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions.
The forward-looking statements contained in this release reflect the Company’s current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances, many of which are beyond the control of the Company, that may cause actual results and future events to differ significantly from those expressed in any forward-looking statement, which risks and uncertainties include, but are not limited to: the ability to complete the proposed transaction on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties related to securing the necessary stockholder approval and satisfaction of other closing conditions to consummate the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement relating to the proposed transaction; risks that the proposed transaction disrupts the Company’s current plans and operations or diverts the attention of the Company’s management or employees from ongoing business operations; the risk of potential difficulties with the Company’s ability to retain and hire key personnel and maintain relationships with customers and other third parties as a result of the proposed transaction; the failure to realize the expected benefits of the proposed transaction; the risk that the proposed transaction may involve unexpected costs and/or unknown or inestimable liabilities; the risk that the Company’s business may suffer as a result of uncertainty surrounding the proposed transaction; the risk that stockholder litigation in connection with the proposed transaction may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; effects relating to the announcement of the transaction or any further announcements or the consummation of the transaction on the market price of the Company’s common stock.
While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance or events. Any forward-looking statement speaks only as of the date on which it was made. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended
View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005800/en/
Vice President, Capital Markets & Investor Relations
(212) 218-7914
apizzo@indusrt.com
Executive Vice President, Chief Financial Officer
(860) 286-2419
jclark@indusrt.com
For Media:
H/Advisors Abernathy
(212) 371-5999 / (202) 774-5600
tom.johnson@h-advisors.global / jeremy.jacobs@h-advisors.global
For Centerbridge:
Centerbridge Investor Relations
(212) 672-5088
IR@Centerbridge.com
For GIC:
Vice President, Communications & Corporate Affairs
(212) 856-2407
katyconrad@gic.com.sg
For ADIA:
Euart Glendinning
+971 2 415 3309
euart.glendinning@adia.ae
Source:
FAQ
What is the recent merger agreement involving INDUS Realty Trust (INDT)?
When is the expected closing date for the INDUS merger?
What does the merger mean for INDUS shareholders?