Realty Income Corp. has entered into a definitive merger to acquire Spirit Realty Capital in an all-stock transaction valued at an enterprise value of approximately $9.3 billion.
The merger, once completed, will result in an enterprise value of approximately $63 billion for the combined company.
“The merger with Spirit is yet another example of how our size, scale and unique platform value continue to create substantial value for our shareholders,” said Sumit Roy, president and CEO of Realty Income. “We expect that this transaction will create immediate and meaningful earnings accretion while enhancing the diversification and depth of our high-quality real estate portfolio. Spirit’s assets are highly complementary to our existing portfolio, extending our investments in industries that have proven to generate durable cash flows over several economic cycles. We also believe this merger will strengthen our long-standing relationships with existing clients and allo
