Home Properties Inc. Announces Cash Dividend, Payable on or Before December 31, 2015
Sep 23 15
Home Properties Inc. announced a cash dividend equal to $0.00844 per share of common stock for each day elapsed from and including October 1, 2015 (or, if the Lone Star merger is approved by stockholders on a later date, from and including such later date) and ending on the day before the closing date of the previously announced merger with affiliates of Lone Star Funds. The dividend is payable on the merger closing date to stockholders of record at the close of business on the second business day prior to the merger closing date. To the extent any such dividends are not paid before the merger closing date, then the payment will be made as soon as practicable thereafter. The dividend will not be paid if the merger agreement is terminated or the merger does not close on or before December 31, 2015.
Home Properties Inc. Enters into a Memorandum of Understanding with the Plaintiffs for the Settlement of a Purported Class Action Lawsuit
Sep 21 15
On September 21, 2015, Home Properties Inc. entered into a memorandum of understanding with the plaintiffs and other named defendants regarding the settlement of a purported class action lawsuit related to the previously announced Agreement and Plan of Merger, dated as of June 22, 2015, among Home Properties Inc., Home Properties, L.P., LSREF4 Lighthouse Acquisitions, LLC, LSREF4 Lighthouse Corporate Acquisitions, LLC, LSREF4 Lighthouse Operating Acquisitions, LLC and UDR Inc. Under the MOU, the plaintiffs have agreed to settle the Consolidated Lawsuit and release the defendants of all claims related to the proposed transaction, subject to court approval. If the court approves the settlement contemplated by the MOU, the Consolidated Lawsuit will be dismissed with prejudice. Pursuant to the terms of the MOU, the company has agreed to make available additional information to the Company’s stockholders and provide plaintiff’s counsel limited additional confirmatory discovery. The amended complaint in the consolidated lawsuit alleges, among other things, that the preliminary proxy statement filed on August 4, 2015 failed to disclose material information about the proposed transaction, including the proposed merger of the company with an affiliate of Lone Star Funds. The company strongly believes that its disclosures in the preliminary proxy statement and the definitive proxy statement are appropriate and adequate under applicable law and, along with the other defendants, denies all of the allegations in the consolidated lawsuit. Nevertheless, in order to lessen the risk of any delay of the closing of the Merger as a result of the litigation, the company has decided to make available to its stockholders certain additional information in connection with the Merger and other transactions contemplated by the Merger Agreement. The settlement will not affect the merger consideration to be paid to the company’s stockholders in connection with the Merger or the timing of the special meeting of the company’s stockholders, scheduled for October 1, 2015, to, among other things, consider and vote on a proposal to approve the Merger and the Merger Agreement.
Home Properties Inc., Special/Extraordinary Shareholders Meeting, Oct 01, 2015
Aug 27 15
Home Properties Inc., Special/Extraordinary Shareholders Meeting, Oct 01, 2015., at 10:00 US Eastern Standard Time. Location: Clinton Square, 14th Floor. Agenda: To approve the merger of the company with and into LSREF4 Lighthouse Corporate Acquisitions, LLC, an affiliate of Lone Star Real Estate Fund IV (U.S.), L.P. and the previously announced agreement and Plan of Merger, dated as of June 22, 2015 and as may be amended from time to time; to approve the compensation that may become payable to the company's named executive officers in connection with the REIT merger; and to approve any adjournments of the Special Meeting for the purpose of soliciting additional proxies if there are not sufficient votes at the Special Meeting to approve the REIT merger and the Merger Agreement.