Gramercy Capital, American Financial set meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., Dec. 20 - Gramercy Capital Corp. and American Financial Realty Trust shareholders will vote on the companies' proposed merger at separate meetings on Feb. 13 in New York.

Gramercy Capital shareholders of record as of Jan. 2 will vote at a 10:30 a.m. ET meeting, with the American Financial meeting starting at 10 a.m. ET, according to a company news release.

The merger is on track to close during the second half of March, the companies said.

As previously reported, Gramercy Capital agreed to acquire American Financial for about $3.4 billion including the assumption of debt.

American Financial shareholders will receive $5.50 in cash and 0.12096 of a share of Gramercy common stock for each American Financial share held. Upon closing, American Financial shareholders are expected to own about 31% of Gramercy Capital's outstanding shares.

Gramercy Capital is a New York-based commercial real estate specialty finance company.

American Financial Realty Trust is a self-administered, self-managed real estate investment trust based in Jenkintown, Pa.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.