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Retail Opportunity Investments Corp. (ROIC): $17.33
Market cap: $2.23 B
Deal Size: $4 B
Blackstone (BX) entered into a merger agreement on November 6, 2024, to take Retail Opportunity Investments Corp (ROIC) private in an all-cash deal valued at $4 billion, including debt. Under the terms of the agreement, Blackstone will acquire all outstanding common shares of ROIC for $17.50 per share in cash, representing a 5.49% premium from the stock’s last close.
Retail Opportunity Investments is a real estate company that owns and manages grocery-anchored shopping centers on the West Coast, with 93 properties covering 10.5 million square feet as of September 30, 2024. In June, reports surfaced about Blackstone holding talks with ROIC, and Bain Capital was also interested in acquiring the real estate investment trust (REIT). The stock had been trading at $13.04 before Reuters reported on the deal. The transaction is expected to close in the first quarter of 2025.