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INLAND RETAIL REAL ESTATE TRUST, INC ANNOUNCES COMPLETION OF MERGER WITH DEVELOPERS DIVERSIFIED
On February 27, 2007 Inland Retail Real Estate Trust, Inc. (“IRRETI”) announced that it has completed the previously announced merger with Developers Diversified (NYSE:DDR) for approximately $6.2 billion, including approximately $2.3 billion of existing debt.
Under the terms of the merger agreement, each outstanding common share of IRRETI was exchanged for $12.50 in cash in addition to 0.021569 shares of DDR common stock for an aggregate consideration of $14.00 per share. IRRETI shareholders of record will also receive prorated dividends for the month of February in cash in accordance with the merger agreement. Please read the attached press release for further details.
Inland Retail Merger Consideration & Tax Information
1099s:
2007 Form 1099s will be issued by Registrar and Transfer Company (“R&T”) prior to January 31, 2008. Such information may be accessed on the Investor Relations Inquiry System (IRIS) portion of R&T’s website at www.rtco.com.
ERISA VALUE 12/31/2006:
The December 31, 2006 ERISA Value was estimated at $14 per share. Please read the attached distribution letter dated January 8, 2007 for further details. |
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