Supermarket landlord Regency proposes deal with AmReit

Shopping center developer Regency Centers has proposed an acquisition of Houston-based counterpart AmReit in a merger that would unite major supermarket landlords in the South.

Regency, based in Jacksonville, Fla., proposed the deal by way of a public pronouncement, indicating AmReit was reticent to private talks between the companies. AmReit acknowledged the offer, which at $22 per share valued the developer at $433 million, and said its board of directors would consider it.

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