Columbia to be acquired by PIMCO for $3.9B

 Columbia to be acquired by PIMCO for $3.9B

Columbia Property Trust is to be acquired by funds managed by Pacific Investment Management Company (PIMCO), a global investment management firm, for $3.9 billion.

The deal includes Columbia’s proportionate share of consolidated and unconsolidated debt. Under the terms of the agreement, PIMCO will acquire all of the outstanding shares of Columbia common stock for $19.30 per share in cash. This represents a premium of approximately 27 percent over Columbia’s unaffected closing share price on Friday, March 12, 2021. During this time period the high barrier office sector has traded down 5%.1

This transaction with PIMCO is the culmination of a strategic review process undertaken by Columbia’s Board of Directors which was publicly announced in the spring of this year. As part of this process, Columbia’s Board and advisors invited nearly 90 potential counterparties to participate, including strategic acquirers, private…

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