Retail Opportunity Investments Corp. Announces Agreement and Plan of Merger with Blackstone – Acquisition Worth $4 Billion

Retail Opportunity Investments Corp. (NASDAQ: ROIC) recently disclosed the signing of an Agreement and Plan of Merger with Blackstone Real Estate Partners X L.P., marking a significant milestone for the company. The merger, valued at approximately $4 billion, is set to acquire all outstanding common shares of ROIC for $17.50 per share in an all-cash transaction.

The press release issued by ROIC detailed the merger agreement executed on November 6, 2024, between the company, Retail Opportunity Investments Partnership, LP, and several other entities affiliated with Blackstone. The completion of the transaction is anticipated in the first quarter of 2025, pending stockholder approval and other customary closing conditions.

Stuart A. Tanz, President and CEO of ROIC, expressed satisfaction with the agreement, attributing it to the unwavering commitment and dedication of the ROIC team over the past 15 years. Blackstone’s Co-Head of Americas Acquisitions, Jacob Werner, highlighted the strategic importance of this acquisition, emphasizing the robust fundamentals of necessity-based retail centers in key geographical locations.

The completion of the merger is subject to regulatory and stockholder approval. The acquisition has been endorsed by ROIC’s Board of Directors and is expected to further strengthen ROIC’s market position and potential for growth in the West Coast market.

Following the disclosure of the merger agreement, ROIC provided a communication to its employees concerning the proposed transaction. Employees were assured that until the completion of the merger, business operations would proceed as usual. The company also promised to communicate any developments promptly and treat all employees fairly throughout the process.

The filing detailed potential risks and uncertainties associated with the merger, encompassing factors such as completion timing, possible litigation, and business disruptions. ROIC emphasized its commitment to keeping stakeholders informed as the transaction progresses, providing assurance and clarity regarding employees’ benefits and stock options post-merger.

As the merger advances, additional information will be available in a proxy statement to be filed with the U.S. Securities and Exchange Commission. Company stockholders and employees are encouraged to review these documents thoroughly for detailed insights into the transaction.

For further details and updates on the merger, interested parties can access relevant documents on the SEC’s website or ROIC’s official webpage. The company’s leadership is committed to keeping stakeholders informed and addressing any concerns throughout this transition.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Retail Opportunity Investments’s 8K filing here.

About Retail Opportunity Investments

Retail Opportunity Investments Corp. (Nasdaq: ROIC), is a fully integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely populated, metropolitan markets across the West Coast. As of December 31, 2023, ROIC owned 94 shopping centers encompassing approximately 10.6 million square feet.