Columbia Board Reaches Agreement With PIMCO; Shareholders To Receive $19.30/Share

(RTTNews) - Columbia Property Trust, Inc. (CXP) has agreed to be acquired by funds managed by Pacific Investment Management Company LLC, or PIMCO for $3.9 billion including debt. PIMCO will acquire all of the outstanding shares of Columbia stock for $19.30 per share in cash.

Columbia Property Trust shareholders will be entitled to receive the third quarter dividend of $0.21. The company will not pay additional quarterly dividends during the pendency of the deal.

PIMCO, one of the world's premier fixed income investment managers, is owned by Allianz S.E., a diversified financial services provider.

Shares of Columbia Property Trust were up 15% in pre-market trade on Tuesday.