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Article: Prime Retail, Inc. Declares Special Cash Distributions
- Article from:
- PR Newswire
- Article date:
- May 29, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Record Date and Payment Date Set for Distribution of Common Stock of Horizon
Group Properties, Inc.
BALTIMORE, May 29 /PRNewswire/ -- Prime Retail, Inc. (NYSE: PRT, PRT.PRA, PRT.PRB) announced today that its Board of Directors (the "Board") has approved the payment of the special cash distributions to be made in connection with Prime Retail's proposed merger with Horizon Group, Inc. ("Horizon") (NYSE: HGI).
Subject to completion of the merger with Horizon, a special cash distribution of $0.50 per share/unit will be made to holders of Prime Retail's Series C Preferred Securities, Common Stock, and the common ...