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Real Estate M&A

Regency Centers in its $1.4 billion all-stock acquisition of Urstadt Biddle Properties to create a $16 billion enterprise

On May 18th, 2023, Regency Centers Corporation (Nasdaq: REG) and Urstadt Biddle Properties Inc. (NYSE: UBP; UBA) announced that they have entered into a definitive merger agreement by which Regency will acquire Urstadt Biddle in an all-stock transaction valued at approximately $1.4 billion, including the assumption of debt and preferred stock.  The combined company is expected to have a pro forma equity market capitalization of approximately $11 billion and total enterprise value of approximately $16 billion.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Regency.