Regency Centers offers $22 per share for AmREIT

|About: Regency Centers Corporation (REG)|By:, SA News Editor

The public move follows failed efforts by Regeny (REG) to engage AmREIT (AMRE) management in a discussion about a takeover. "We are making this letter public because we feel that the potential benefits of a combination are just too great to ignore," says Regency CEO Hap Stein in a letter to AmREIT Chairman H. Kerr Taylor.

Regency currently owns about 4.2% of AmREIT stock and the $22 offer is payable in cash and/or stock.

AMRE +14.7% premarket to $22.02