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Kite Realty, Inland Diversified to merge in $2.1 billion deal
Indianapolis — Kite Realty Group Trust has announced a definitive agreement with Inland Diversified Real Estate Trust. Under the agreement, Inland Diversified will merge with and into a wholly owned subsidiary of Kite Realty through a stock-for-stock merger. The transaction value is approximately $2.1 billion; the equity value is approximately $1.2 billion; and the enterprise value is approximately $3.9 billion — this based on the closing trading price of Kite realty’s common shares on February 7, 2014.
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Hudson’ Bay Co.’s CFO resigns
Toronto -- Michael Culhane, CFO of Hudson’s Bay Company, has resigned following a leave of absence from the company.
Culhane went on personal leave on January 22, at which time COO and president Donald Watros was appointed acting CFO. He will continue in that role until a permanent replacement is named.
“This is the ideal time for me to leave HBC as the company is well positioned for the future,” said Culhane. “I wish all of HBC’s associates and business partners continued success.”