27 Feb 2017

Silver Bay Realty Trust Corp. Acquisition by Tricon Capital Group Inc

Morrow Sodali

Silver Bay Realty Trust Corp. (NYSE:SBY), a single-family rental real estate investment trust (“REIT”), announced that its Board of Directors has unanimously approved and Silver Bay has entered into a definitive agreement pursuant to which Tricon Capital Group Inc. will acquire Silver Bay in a transaction valued at approximately $1.4 billion. Silver Bay’s stockholders will receive $21.50 per share in cash for each outstanding share of common stock held immediately prior to the closing of the transaction. This purchase price represents a 19% premium to Silver Bay’s closing price on February 24, 2017 of $18.01 and a 24% premium to the stock’s 90 day trailing average price as of February 24, 2017. In addition, Tricon Capital Group Inc. will assume or repay a total of approximately $600.0 million of Silver Bay’s debt (net of cash on hand).

Morrow Sodali is serving as the proxy solicitor for Silver Bay Realty


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