Monmouth Real Estate shareholders OK Industrial Logistics merger

Monmouth Real Estate Investment Corp. shareholders approved the company's acquisition by Industrial Logistics Properties Trust.

The deal is expected to close before the end of February, subject to customary closing conditions.

Upon completion of the merger, Monmouth's common shareholders will receive $21.00 per share in cash, without interest and subject to applicable withholding tax. Holders of Monmouth's 6.125% series C cumulative redeemable preferred stock will receive $25.00 per share in cash plus accumulated and unpaid dividends to, but not including, the deal closing date.