American Realty offers to buy Prime Group for cash and stock

American Realty Investors Inc., a real estate investment firm, said it offered to buy Prime Group Realty and a partnership called Prime Group Realty L.P.

As part of the offer, American Realty would acquire PGR common stock for $7.50 a share in cash plus 0.2 new shares of ARL preferred stock.

In addition, American Realty offered to buy all PGR Series A preferred stock for $20 per share and that American Realty would exchange all PGR Series B preferred stock for American Realty preferred stock.

Prime Group Realty has a market capitalization of $116.9 million at todayÂ's close.

(source: Reuters)

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