EastGroup Properties -
[Cached Version]
Published on: 2/3/1999
Last Visited: 8/8/2001
Commenting on the Merger Agreement , Meridian VIII's Chairman of the Board , Christopher J. Doherty , said , After a lengthy process of review , we believe the Merger Agreement reflects the most favorable strategic alternative available to Meridian VIII , and allows our shareholders to liquefy their investment at an attractive price with a minimum of delay..
EastGroup intends to commence the Offer for both Preferred and Common Shares of Meridian VIII on or about Monday , February 23 , 1998 , with the filing and distribution of necessary disclosure materials.The Offer will remain open for 20 business days , subject to extension under certain circumstances.EastGroup's obligation to complete the Offer is subject to certain conditions , which EastGroup may waive at its discretion , including that there shall have been validly tendered and not withdrawn prior to expiration of the Offer at least 3 , 186 , 354 Preferred Shares and/or Common Shares of Meridian VIII.This figure reflects the number of Preferred Shares and/or Common Shares which , when combined with EastGroup's current ownership of 1 , 469 , 556 Preferred Shares , would result in EastGroup owning at least two-thirds of the voting stock of Meridian VIII.EastGroup's Offer is fully financed through EastGroup's existing line of credit and is not subject to any financing contingency.
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