W.P. Carey (WPC) agrees to buy non-traded REIT Corporate Property Associates 16 - Global...

|About: W.P. Carey, Inc. (WPC)|By:, SA News Editor

W.P. Carey (WPC) agrees to buy non-traded REIT Corporate Property Associates 16 - Global Incorporated (CPA:16 Global) in an all-stock deal valued at about $4B (no small feat for a company with $4.6B market cap). Following the merger, WPC is expected to have a market cap of $6.5B and total enterprise value of $10.1B. The deal values CPA:16 stock at $11.25 each vs. a reported end of year NAV of $8.70. (PR)