Northstar Realty Europe announces completion of AXA acquisition, shares delisted
Northstar Realty Europe announced the completion of the previously announced acquisition of NRE by AXA Investment Managers, acting as manager of one of its funds, through a merger of NRE with and into a wholly-owned subsidiary of such fund. The merger was approved at a special meeting of NRE stockholders. Each share of NRE common stock outstanding as of the merger was cancelled and converted automatically into the right to receive an amount in cash equal to the sum of $1.68 plus the U.S. dollar equivalent of EUR9.26 plus the U.S. dollar equivalent of GBP3.82. After the settlement of the previously disclosed forward exchange contracts to hedge the non-U.S. dollar portions of the merger consideration, the U.S. dollar consideration to be paid for each share of NRE common stock is approximately $17.01. In connection with the completion of the merger, NRE's common stock will be delisted from the New York Stock Exchange.