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Home Properties sets meeting for deal approval

Home Properties Inc. plans to hold a special meeting of stockholders in October asking for approval to be acquired by a global private-equity firm.

The meeting will be held at Home Properties office at Clinton Square at 10 a.m. Oct. 1, the company said.

In June, Home Properties announced it had agreed to be acquired for close to $7.6 billion by an affiliate of Lone Star Real Estate Fund IV L.P. The all-cash transaction includes the assumption of existing debt.
In addition to voting on the agreement, shareholders as of Aug. 14 will vote on a non-binding, advisory proposal to approve the compensation that may become payable to the company’s named executive officers in connection with the deal.

Shareholders also will vote on a proposal 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 agreement.

(c) 2015 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail rbj@rbj.net.
 

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