- WP Glimcher (NYSE:WPG) shot higher in late action yesterday on a report its in sale talks with Kite Realty Group (NYSE:KRG). Both are similarly sized, with KRG at a $2.3B market cap, and WPG at $2B.
- Kite is no stranger to acquisitions, having purchased Inland Diversified Real Estate Trust in 2014 for $1.2B. WP Glimcher is the product of Washington Prime Group's $2B purchase of Glimcher Realty Trust last year. Washington Prime was spun out of Simon Property Group in 2014. These guys know how to keep their bankers happy.