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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Select Income REIT (NASDAQGS: SIR) to Government Properties Income Trust. Under the terms of the transaction, Select Income shareholders will receive 1.04 shares of Government Properties shares and a special dividend of 0.502 of a share of Industrial Logistics Property Trust for each share of Select Income stock they own; this represents a value of approximately $17.54 per share.
The Select Income merger investigation concerns whether the Board of Select Income breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Government Properties is underpaying for Select Income shares, thus unlawfully harming Select Income shareholders.
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