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Cousins Properties, TIER REIT Stockholders Approve Merger
Atlanta-based Cousins Properties (NYSE: CUZ) and Dallas-based TIER REIT (NYSE: TIER) have announced that the stockholders of both companies approved the necessary proposals for the closing of a stock-for-stock merger previously announced in March.
Approximately 99 percent of votes cast at the special meeting of Cousins stockholders were in favor of the proposal to issue the necessary shares of Cousins stock to complete the merger. At the special meeting of TIER stockholders, approximately 98 percent of the votes cast were voted in favor of the merger, which represented approximately 66 percent of the outstanding shares of TIER common stock.
The merger was expected to close on June 14, 2019. Upon completion of the merger, TIER stockholders will be entitled to receive 2.98 shares of Cousins common stock for each share of TIER common stock that they own. Cousins and TIER anticipate that TIER common stock will continue to trade on June 14 and be de-listed after trading hours on that date.
For comments, questions or concerns, please contact David Cohen
