CenterPoint Properties' Shareholders Approve Merger with CalEast; Merger Expected to Close March 8, 2006
07 Marzo 2006 - 4:00PM
Business Wire
CenterPoint Properties Trust (NYSE:CNT) ("CenterPoint") announced
today that its common shareholders approved the merger proposal
with a subsidiary of CalEast Global Logistics, a joint venture
between the California Public Employees' Retirement System and
LaSalle Investment Management. Approximately 35.2 million, or
72.1%, of CenterPoint's outstanding common shares were voted. Of
the total outstanding common shares, approximately 71.8% voted in
favor of the merger proposal. CenterPoint's common shares and its
7.5% Series B Convertible Redeemable Preferred Shares are expected
to be delisted upon the closing of the merger. The closing is
expected to occur March 8, 2006. About CenterPoint Properties Trust
CenterPoint is a publicly traded real estate investment trust
(REIT) and the largest industrial property company in the
1.4-billion-square-foot Chicago regional market. As of September
30, 2005, the Company owned approximately 38 million square feet
and the Company and its affiliates owned or controlled an
additional 3,053 acres of land upon which approximately 44.1
million square feet could be developed. The Company is focused on
providing unsurpassed tenant satisfaction and adding value to its
shareholders through customer driven management, investment,
development and redevelopment of warehouse, distribution, light
manufacturing buildings and logistics infrastructure. Certain
matters discussed in this press release are forward-looking
statements within the meaning of Federal securities laws. There can
be no assurance that future results will be achieved and actual
results could differ materially from forecasts and estimates.
Forward-looking statements in this press release include, without
limitation, statements relating to the anticipated closing date of
the transaction, and the possibility that any of the conditions to
closing, including those outside the control of CenterPoint, will
be satisfied. CenterPoint does not assure the future results or
outcome of the matters described in forward-looking statements;
rather, these statements merely reflect current expectations of the
approximate outcomes of the matters discussed. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors, some of which are beyond CenterPoint's control. The reader
is cautioned to make his/her own judgment with regard to the
statements discussed in this press release and the assumptions
noted by CenterPoint herein. Many factors may cause actual results
to differ materially from the anticipated future results or
performance expressed or implied by these forward-looking
statements. Certain factors that could cause actual results to
differ materially are general business and economic conditions,
completion of pending acquisitions and dispositions, competitive
market conditions, weather, pricing of debt and equity capital
markets and other risks inherent in the real estate business. Such
factors and others are listed in the Company's Form 10-K and 10-Qs.
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