Following lengthy negotiations, Landmark Dividend has agreed to acquire Landmark Infrastructure Partners in a deal representing one of the highest premiums ever paid in a transaction where a GP purchases its MLP.
Landmark Infrastructure Partners is a growth-oriented real estate and infrastructure company formed by Landmark Dividend to acquire, own and manage a portfolio of real property interests and infrastructure that are leased to companies in the wireless communication, outdoor advertising and renewable power generation industries.
Under the terms of the agreement, Landmark public unitholders will receive $16.50 in cash for each common unit owned, representing a premium of 38 percent to the partnership’s unaffected unit price on May 14, the last business day prior to the announcement of LD’s proposed acquisition of Landmark for $13.00 per common unit.
If the proposed transaction is not completed, Landmark Dividend said it will continue operating Landmark