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Howard Hughes  |  by www.tradingmarkets.com. All rights reserved. 6.11 | 20:41

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(RTTNews) - Kimco Realty Corp. ( | | | ) and Prudential Real Estate Investors revealed the completion of the previously announced acquisition of Pan Pacific Retail Properties, Inc. ( | | | ) in a transaction with a total value of approximately $4.

1 billion. All of Pan Pacific's shares of common stock have been converted into the right to receive approximately $60.24 in cash, including approximately $0.

24 in prorated dividends, and 0.2253 shares of Kimco common stock. Kimco has also assumed an aggregate of $630 million in principal amount of Pan Pacific senior notes.

The assets of Pan Pacific will be held by a joint venture between Kimco and PREI, the real estate investment advisory business of Prudential Financial, Inc. ( | | | ).

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Keywords: Pan Pacific, Real Estate
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