AvalonBay Communities, Equity Residential Complete Merger to Create Vivmark Residential
MT Newswires Live
Aug 17
AvalonBay Communities (AVB) and Equity Residential (EQR) said Monday they have completed their merger of equals, creating Vivmark Residential (VMRK).
Vivmark Residential is expected to start trading on the New York Stock Exchange under the ticker symbol VMRK at the opening of trading on Tuesday, the companies said.
Vivmark Residential expects to deliver a current yield to investors through the payment of an initial expected annualized dividend of $2.81 per share, the companies further said.
Additionally, the transaction is expected to qualify as a tax-free reorganization for US federal income tax purposes, according to the companies.
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