February 3, 2006
Willkie client Oriole Partnership LLC submitts a definitive offer to acquire all of the outstanding common shares of The Town and Country Trust for $40.15 per TCT share in an all cash transaction.
On February 2, it was announced that Willkie client Oriole Partnership LLC, a joint venture investment vehicle formed among Essex Property Trust, Inc., UBS Wealth Management - North American Property Fund Limited, and AEW Oriole Co-Investment, LLC, has submitted a definitive offer to acquire all of the outstanding common shares of The Town and Country Trust for $36.00 per TCT share in an all cash transaction. On February 13, Oriole increased its offer to $40.15 per TCT share. If the bid is accepted, the merger agreement entered into by TCT with a joint venture formed by affiliates of Morgan Stanley and Onex Corporation on December 19, 2005 would be terminated. Town & Country is a real estate investment trust (REIT) that owns 38 apartment complexes across Mid-Atlantic states and down the eastern seaboard to Florida. The deal was handled by partners Steven Seidman, William Gump, Henry Cohen, Steven Klein and Stephen Greiner, and associates Laura Delanoy, Erika Shalette, Matthew Guercio, Thomas O'Grady, Andrew Reardon, Christopher Peters, Lawrence Plotkin, Bernadette Davida, Alycia Green, Michael Sherman, Debra Sapp, Kate Dolan, Matthew Kaplan and Kevin Klesh.
