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
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,318.16 | 1,091.38 | 2,146.04 | 33.56 |
Oil *
77.53
|
|
DOWN
14.28
|
DOWN
3.52
|
DOWN
10.78
|
UP
0.07
|
10 Yr
3.36%
SPDR Gold
112.94
|
|
-0.14%
|
-0.32%
|
-0.50%
|
+0.21%
|
Data delayed 20 minutes |














