Trustreet Properties (TSY Quote), a restaurant real estate investment trust, has agreed to be acquired by General Electric's (GE Quote) Capital Solutions unit in a $3 billion deal.
The total value reflects the assumption or refinancing of Trustreet's debt. As for the equity, Trustreet is being valued at $17.05 a share. The transaction should close during the first quarter of 2007. Shares of Trustreet have a 52-week high of $15.85 and closed Friday at $12.51. Following news of the takeover, the stock jumped nearly 35% to $16.85 early Monday. Trustreet's customers include Wendy's, Burger King, Jack-In-The-Box, Arby's, Denny's and Pizza Hut franchisees. Trustreet's board unanimously approved the acquisition and recommended that shareholders vote for the purchase.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
Connect with TheStreet
 |
 |
-
U.S. Stocks Rally on Growing Prospects for Bailout of Greece
BusinessWeek Online
-
Google Adds 'Buzz' to Gmail
The Wall Street Journal.
-
Japan Airlines Decides to Stick With American Airlines
New York Times
-
UBS Returns to Profit but Clouds Linger
New York Times
-
Euro bounces back against dollar
BBC
-
Why fret about Greece?
The Economist
-
Ore Increases Boost Steel Prices
The Wall Street Journal.
-
Stiglitz Sees No Greek Default as ‘Speculative Attacks’ Persist
BusinessWeek Online
-
Tuesday Reads
The Big Picture
-
Bipartisan Health Reform Is Still Possible
Forbes.com: Business News
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,058.64 | 1,070.52 | 2,150.87 | 36.33 |
Oil *
72.02
|
|
UP
150.25
|
UP
13.78
|
UP
24.82
|
UP
0.41
|
10 Yr
3.63%
SPDR Gold
105.45
|
|
+1.52%
|
+1.30%
|
+1.17%
|
+1.14%
|
Data delayed 20 minutes |
More From TheStreet
Latest Headlines
Brokerage Partners
Sponsored Links
