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Veris Residential to Be Acquired by Affinius Capital-Led Investor Consortium for $3.4 Billion in Cash

  • Veris Residential, Inc. agreed to be acquired by an investor consortium led by Affinius Capital & Vista Hill Partners in an all-cash transaction.
  • Shareholders will receive $19.00 per share in cash, representing an implied enterprise value of $3.4 billion.
  • The offer price reflects a 23.2% premium to the unaffected closing share price on February 4, 2026, & a 27.5% premium to the 30-day volume-weighted average price.
  • The transaction is expected to close in the second quarter of 2026, subject to shareholder approval & customary closing conditions.
  • Financing will consist of equity investments & debt, including a $2.08 billion committed senior secured bridge loan facility.
  • Veris will distribute its regular quarterly cash dividend for the first quarter of 2026 but will suspend all future dividends.
  • Veris common stock will be delisted from the NYSE following the transaction's completion.
  • The Board unanimously approved the deal, & Bow Street LLC, owning approximately 5.6% of shares, agreed to vote in favor under a Support Agreement.
  • The company released Q4 & full-year 2025 earnings but will cancel the scheduled earnings conference call & provide no 2026 guidance.
  • J.P. Morgan & Morgan Stanley serve as financial advisors for Veris, while UBS Investment Bank leads the buyside financial advisory.