Simpson Thacher Represents Bedford Property Investors, Inc. in its Sale to LBA Realty LLC
02.15.06
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Simpson Thacher is representing Bedford Property Investors, Inc. (NYSE: BED) in its sale to LBA Realty LLC. Under the terms of the merger agreement, an affiliate of LBA will acquire all of the outstanding common stock of Bedford for $27.00 per share in cash. Bedford’s preferred stock will remain issued and outstanding after the closing of the transaction. The transaction is expected to be completed late in the second quarter of 2006, subject to obtaining stockholder approval and customary closing conditions.
The Simpson Thacher team includes Kevin Kennedy, Kirsten Jensen, Ric Fenton, Dave Wagner and Matt Crosby (M&A); Richard Grimm and Wendy Davis (Executive Compensation and Employee Benefits); John Hart and Ben Applestein (Tax); Gregory Ressa and Amy Abbazia (Real Estate); and Matt O’Shea (Credit). Valuable assistance was provided by paralegal Jessie Redden.